The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps

Make no mistake, there's quite a lot involved in oder to get a mortgage. You wouldn't be here on our website if you could fill out a one-page loan app and get a great loan funded the same day. 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 getting a mortgage loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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 process really begins and you save the most money. You will provide information on your current job, assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to pull your credit score and report. When we review this info we give you a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for your new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, you should apply for the loan. Applying for a loan could not get much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we'll order an appraisal of your new home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender needs are in order, and you'll probably}likely sign all these papers at their officeWe work with with this company on your date to close. Since you won't need to worry about these details, you can concentrate on moving, painting, new carpet, and all the details of moving into a new home.

You've answered some few questions, provided lots of information, applied , and before you know it, you are moving in! F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?

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.