An Overview of the Loan Process

	In the market for a mortgage loan? We can help! Call us at 703-385-6122 #236. Ready to begin? Apply Here.

Make no mistake, there's a lot involved when you get a mortgage loan. You wouldn't be visiting our site if you could fill out a simple application and get an excellent loan check cut in one day. But Fairfax Mortgage Investments does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in getting a mortgage loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. 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 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: complete a pre-qualification

This step is where Fairfax Mortgage Investments can begin saving you money. You will provide info on your current job, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we've reviewed your information, we'll give you a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we're busy finding the loan that's just right for you.

Step three: apply now! We make it easy

After you've made an offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: funding

The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure the papers your lender will require are in order, and you will probably}likely sign all these papers at their officeWe do all the work to coordinate with this company on your closing date. Since you will not need to worry with this coordination, you can concentrate on moving, if you're going to repaint, carpet, and all the details of moving into your new house.

You've answered some few questions, given us detailed information, applied , and Before you know it, you're moving! We take care of the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Fairfax Mortgage Investments at 703-385-6122 #236. It's our job to answer lending questions, so we're happy to help!