About the Loan Process

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No doubt, a lot to do when you get a mortgage loan. You wouldn't be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. We do most of 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 getting a 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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment amount using the calculators on our website. 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: pre-qualify for your loan

This step is where Consumer First Mortgage can start to save you money. You will supply 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 (only after you give your permission, of course). We will review this information and provide a pre-qualification letter. Your REALTOR® should use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for your new home with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made the offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our website. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: your loan is funded

The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure the papers your lender requires are available, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with the title company to set your date of closing. Since you won't need to worry about these details, you get to concentrate on the move, if you're going to repaint, new carpet, and the details involved in moving into a new house.

You've answered some few questions, provided detailed information, applied , and the next thing you know, you are deciding when to move in! Consumer First Mortgage is in the business of loans; you're not — so we take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Consumer First Mortgage at (256) 586-5626. Consumer First Mortgage answers loan process questions every day.