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

	Shopping for a mortgage loan? We will be glad to help! Give us a call at (256) 586-5626. Ready to get started? Apply Online Now.

Make no mistake, there's a lot involved when you get a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get a great loan check cut in one day. But Consumer First Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in getting 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? 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 questions. 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 Consumer First Mortgage can start to save you money. You will supply info about your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We run your credit score and report. After we've reviewed this information, we'll provide a pre-qualification letter. Handle it with care — it is a useful tool for buying your new home! Your agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home, we're busy researching the loan program that's just right for you.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan could not get much easier; you can apply online right here on our site. Finally, we'll order the appraisal of your new home.

Step four: funding

The real estate agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign everything at their officeWe do all the work to coordinate with the title company to set your date to close. Since you won't have to worry with this coordination, you get to think about the move, paint colors, carpet, and all the details of moving into your new house.

You've answered some few questions, given us lots of information, applied , and Before you know it, you're moving in! Consumer First Mortgage is in the business of mortgage loans; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Consumer First Mortgage at (256) 586-5626. It's our job to answer lending questions, so we're happy to help!