The Four Steps of the Mortgage Loan Process: 

No doubt, a lot to do in order to get a mortgage loan. You wouldn't be visiting our website if it were possible to fill out a simple mortgage application and receive the best loan check cut 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.

Getting a home loan involves four major milestones.

Step one: Decide how much you can afford

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. 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: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will provide information about your employment, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we've reviewed your information, we'll give you a pre-qualificaiton letter. 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 deciding on the home that's right for you, we're busy finding the loan that's just right for your situation.

Step three: apply for your loan

Once you've made the offer and the sellers have accepted, you should complete the loan application. It couldn't be easier, and you can apply online, right here on our website. When the time is right, we'll order an appraisal of your new home.

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to ensure all the papers your lender needs are in order, and you'll probably}likely sign everything at this company's office. We do all the work to work with with this company on your closing date. Since you won't have to worry about these details, you can concentrate on moving logistics, painting, new carpet, and the fun parts of moving into your new house.

You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving! First National Bank is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call First National Bank at 817-909-7916. We answer questions about the loan process every day.

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