How the Mortgage Loan Process Works

	Are you looking for a new mortgage? We can help! Give us a call at (817) 235-3089. Want to get started? Apply Here.

There is little doubt that getting a mortgage loan is a complicated process. You wouldn't be here on our site if it were possible to fill out a one-page loan app and get a great loan funded the same day. 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 obtaining a mortgage loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. What kind of monthly payment are you looking for? 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. 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: pre-qualify for your loan

This is where the rubber meets the road and you save the most money. You will supply details on your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we have reviewed all this info we will give you a pre-qualification letter. Be careful with this letter — it can be a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for the home that's right for you, we are finding the best loan program for you.

Step three: apply for your loan

Once you have made the offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. Finally, we will 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. We'll work with this company to make sure all the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe work with with this company to set your date of closing. Because you don't have to worry about these details, you get to concentrate on moving logistics, paint colors, carpet, and the details involved in getting a new home.

You've answered a few questions, given us detailed information, applied , and the next thing you know, you are deciding when to move in! We do the mortgage legwork so you can spend your time finding your new home.

Have questions about the loan process? Call FNB Town Square Mortgage at (817) 235-3089. We answer questions about the loan process every day.