Steps To Home Ownership At First Continental Mortgage, Ltd.

 
An overview of the loan process

As you're aware, there's a lot involved in getting a mortgage loan. It would be nice if you could complete a one-page application and get the best loan for you funded the same day. Since that's not possible, we strive to do most of the "heavy lifting" for you, so you can concentrate on what's important – preparing to move into your new home.

There are four main steps involved in getting a loan. At First Continental Mortgage, Ltd., you'll see that we've made your part as easy as possible.

Step 1: Determine how much you can borrow 
Step 1 involves investigating a few items such as how much of a monthly payment can you afford and how much a lender will loan to you.  You can get a rough idea of how much of a monthly payment you can afford by using the calculators on our Web site. We'll also help you through different scenarios by asking a few simple questions. Based on standard lending guidelines, we'll get you a good idea of what kind of terms and loan programs you can expect to be most beneficial for you.
 
Step2: Pre-approval for your loan 
Once you have supplied information about your employment, your assets, your residence history and so on, we'll ask your permission to obtain your credit report. When we review all this information, we'll determine the amount you can borrow, and we provide you with a Pre-Approval Letter. Handle it with care! To a home seller, this is like a suitcase full of cash! Your real estate agent will use your Pre-approval Letter to make the best offer on the home you choose. The seller knows you're pre-approved, and this gives you real negotiating power! So while you're picking out the perfect home, we're busy finding the loan that's just right for you.
 
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. It couldn't be easier, and you can do it online, right here at our Web site.

When the time is right, we'll order an appraisal of your new home.

Step 4: Your loan is funded 
Your real estate agent, the seller's agent and/or your homebuilder will work to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office.

You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in!

We're in the business of mortgage loans – so we do most of the work.  Doesn't that make sense?