An Overview of the Mortgage Loan Process

There's little doubt that getting a mortgage is a complicated process. You wouldn't be here on our site if you could complete a one-page loan app and get an excellent loan check cut in one day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

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

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will provide info on your current job, your assets, and residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it can be a great tool for buying your new home! Your REALTOR® will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for a new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

After you've made an offer and the sellers accept it, it's time to apply for the loan. Applying for a loan could not be much easier; you can apply right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to ensure all the papers your lender will require are in order, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company to set your date of closing. Since you won't need to coordinate this process, you can concentrate on moving logistics, painting, carpet, and all the details of moving into your new house.

You've answered some few questions, provided lots of information, applied online, and before you know it, you are deciding when to move in! 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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