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

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Make no mistake, there's a lot to do when you get a mortgage loan. You wouldn't be looking up loan information if you could get a loan in one day by filling out a simple application. But Capital Faith Financial Services LLC. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major steps.

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 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 Capital Faith Financial Services LLC. can start saving you money. You will give us information on your employment, assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we've reviewed your information, we'll give you a pre-qualification letter. Your REALTOR® will 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 picking out your new home, we're busy researching the loan program that's just right for you.

Step three: apply for your loan

Once you have signed the offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't 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

Your REALTOR® and the seller's will work together to decide on a title company to handle the funding of your loan. We'll coordinate with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company to set your date to close. Since you will not need to worry with this coordination, you can think about the move, paint colors, carpet, and all the details of getting a new house.

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

Have questions about the loan process? Call Capital Faith Financial Services LLC. at 2039758552. Capital Faith Financial Services LLC. answers loan process questions every day.