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Understanding Loan Application Process

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Understanding Loan Application Process

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  1. Understanding Loan Application Process If you need financing for your home, it is important to understand the loan  application process. Below are important steps that are involved in overall lending process. Pre-qualification The mortgage lender gathers information about the borrower’s income and debts to determine the maximum loan amount. Mortgage Programs & Rates Borrower’s financial           situation is evaluated & he is recommended the most suitable mortgage program as per his eligibility. Loan Application The borrower completes the application and provides all the required documents with the assistance of a loan officer. The Loan Estimate It provides important information including the estimated interest rate, monthly payment, total closing costs for the loan, etc. Processing After submitting the application with the required documents, the mortgage loan is processed for approval. Closing Once the loan is approved, the application proceeds for closing. It includes submitting closing fees and signing documents. 107 W. Hwy. 190 Copperas Cove, TX 76522 254-542-5100 2201 Trimmier Rd. Killeen, TX 76541 254-680-6158 3106 S. WS Young Dr., Bldg. D, Ste. 402 Killeen, TX 76542 254-953-7000 14641 S. Padre Island Dr., Ste. B Corpus Christi, TX 78418 361-949-4647 8522 Broadway St., Ste. 208 San Antonio, TX 78217 210-340-0404 10961 Gateway Blvd. West, Ste. 200 El Paso, TX 79935 915-843-2681 1320 N. Zaragoza Rd., Ste. 111 El Paso, TX 79936 915-858-1996 7348 W. Adams Ave., Ste. 200 Temple, TX 76502 254-771-0020 16165 North 83rd Ave., Ste. 200 Peoria, AZ 85382 201 E. Central Texas Expwy., Ste. 1600 Harker Heights, TX 76548 254-680-6155 480-752-3110 100 W. Central Texas Expwy., Ste. 300 Harker Heights, TX 76548 254-690-3765 www.fcmloans4u.com

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