Thanks to the oversight of the Consumer Finance Protection Bureau (CFPB) the home financing process is more thorough and regulated than ever, to better protect consumers and lenders.
Below is a brief overview of the loan process. A more thorough overview is located in our glossary.
Step 1: Determine How Much You Can Borrow
Ask yourself how much of a monthly payment are you comfortable with? And given your unique credit and employment history, income, debt and goals, how much will a lender loan you?
We can help you figure out the answers to these questions. By looking at several different loan scenarios we can determine the best option for your lifestyle and financial goals.
Step 2: Get Pre-Qualified For Your Loan
Being pre-qualified allows you to shop as an educated, “cash” buyer. With written pre-qualification in your hand you can negotiate more confidently, possibly savings thousands on your home purchase.
A Pre-Qualification is FREE with Fairway Independent Mortgage! We can even pre-qualify you right over the phone in less than an hour!
Step 3: Apply Now – We Make It Easy
Once you’ve made an offer and it’s been accepted, it’s time to complete the loan application. With Fairway Independent Mortgage, we make it fast, easy and most important stress-free! Contact Us.
Step 4: Your Loan Is Funded
Now all you have to do is start packing and prepare to move into your new home!