How the Loan Process Works

	Shopping for a mortgage?James Culpepper is thrilled to answer your questions about his mortgage offerings! Give him a call today at 1-708-647-5248. Want to get started? Apply Now.

Make no mistake, there's a lot involved when you get a mortgage. You wouldn't be looking up loan information if it were possible to get a mortgage loan in a single day with a simple application. James does 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 primary steps involved in obtaining a mortgage loan.

Step one: determine how much you can borrow

This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment amount using the calculators on this website. And James 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, James 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 James Culpepper can really save you money. You will provide details on your current job, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. James gets your permission to pull your credit score and report. James reviews this info and gives you a letter of pre-qualification. 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 house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you have signed an offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can do it online, right here on our site. At the end of this step, we will order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure all the papers your lender needs are in order, and you will probably}likely sign everything at their officeWe do all the work to work with with this company to set your date of closing. Since you will not need to worry about these details, you can think about moving logistics, paint colors, carpet, and the fun parts of getting your new house.

You've answered a few questions, provided detailed information, applied , and before you know it, you're deciding when to move in! James takes care of the legwork so you can focus on finding your new home.

Have questions about the loan process? Call First Mortgage Corp at 7086475248. We answer questions about the loan process every day.