The Mortgage Loan Process: an Overview

There is no doubt ; getting a mortgage is a complex process. You wouldn't be looking up loan information if you could get a loan in a single day by filling out a simple application. But F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in obtaining a mortgage loan.

Step one: Decide how much you can afford

This is a function of a couple things. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: complete a pre-qualification

This is where F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) can start to save you money. You will provide details about your employment, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (with your permission. After we've reviewed this information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a great tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for a new house with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, you should apply for the loan. Applying for your loan couldn't be much easier; you can apply any time right here on our site. When the time is right, we will order an appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure all the papers your lender requires are in order, and you'll probably}likely sign everything at their officeWe do all the work to coordinate with the title company on your date of closing. Because you don't need to coordinate this process, you get to think about moving logistics, paint colors, new carpet, and all the details of getting a new home.

You've answered a few questions, provided lots of information, applied online, and Before you know it, you'll be moving! We take care of the loan details so you can spend your time finding your new home.

Have questions about the loan process? Call F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) at 214-300-8756. F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) answers loan process questions every day.



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