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

	Looking for a loan? We'd be thrilled to discuss our many mortgage solutions! Call us at (805) 432-4898. Ready to begin? Apply Here.

There is no question ; getting a mortgage is a complex process. You wouldn't be researching mortgage loans if you could get a mortgage loan in a single day with a simple application. But CFC Mortgage Bankers does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major milestones.

Step one: determine how much you can borrow

This is a function of a couple things. 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? You can get a good idea of your preferred payment amount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few 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 is where the rubber meets the road and you save the most 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 finished reviewing your information, we'll provide you with a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! Your REALTOR® will 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 real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers accept it, you should apply for the loan. Applying for a loan could not be much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we'll order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to decide on a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure the papers your lender needs are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your date to close. Because you don't have to worry about these details, you can concentrate on moving, paint colors, carpet, and the fun parts of getting a new home.

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

Have questions about the loan process? Call CFC Mortgage Bankers at (805) 432-4898. CFC Mortgage Bankers answers loan process questions every day.