About the Mortgage Loan Process

	Searching for mortgage advice? We'd be thrilled to answer your questions about our mortgage offerings! Call us at (575)437-4880. Want to get started? Apply Here.

Make no mistake, there's a lot to do in oder to get a mortgage loan. You would not be looking up loan information if you could get a loan in one day by filling out a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a mortgage loan involves four major steps.

Step one: determine how much you can borrow

A couple of factors determine this amount. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: complete a pre-qualification

This is where First National Bank will start to save you money. You will provide details on your employment, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new house with your real estate agent, we find the best program for you.

Step three: apply for your loan

After you've signed an offer and the sellers have accepted, you should apply for the loan. Applying for a loan couldn't be much easier; you can apply right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender will require are avaiailable, and you'll probably}likely sign everything at their officeWe coordinate with this company to set your date of closing. Because you will not need to worry about these details, you get to think about moving, painting, carpet, and the fun parts of getting your new house.

You've answered a few questions, given us detailed information, applied , and Before you know it, you'll be moving in! We take care of the mortgage legwork so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call First National Bank at (575)437-4880. First National Bank answers loan process questions every day.