Be informed and in control when buying your home. Even though the process of getting your mortgage loan can seem intimidating, we’re on your side. At FirstMortgage, we know every case is unique, so we are with you every step of the way. 

Learn about:

  • Each step of the process
  • Pre-qualification
  • Pre-approval
  • Closing
  • How long does it take?

Understand the process

  1. Evaluate your financial preparation

    • Take out a piece of paper and a pencil, it’s time to work out the numbers
    • Ask yourself, how much can you really pay for a mortgage
    • Consider how much money you have to invest in your home
    • Include funds for deposit and closing costs
    • Analyze your fixed payments (water, electricity, etc.) and variables like credit cards, auto loans, student loans, clothing expenses, and entertainment, among others
    • Estimate savings amount
    • Add the monthly amount you would have to pay for your home
    • If necessary, reorganize priorities and expenses to ensure your monthly payment
    • Our Mortgage Calculator will aid you in calculating payments
  2. Review your credit report

    • Request the 3 federal credit reports from the agencies that report them (Equifax, Experian, TransUnion) at least two months before applying for a loan
    • Get your free credit report once a year at
    • If you see any mistakes, omissions, or obsolete information, quickly request corrections. It is your legal right under federal law
  3. See your Loan Officer

    This first visit is very important, and it includes, among other things:

    • An analysis of your current income/credit situation
    • How much you can contribute for closing fees
    • The amount of credit you can receive
    • The mortgage’s interest rate
  4. Speed up the approval process: take these documents with you!

    Take the following personal financial information to your meeting:

    • Your social security number, birthdate, marital status, number of dependents, current address, and phone number.
    • Copy of your tax information for the last two years
    • Employment information
    • Creditor and debt information
    • Deposit and retirement plan information
    • Evidence of closing fees and down payment funds
    • Recent payroll evidence
  5. Get a pre-qualification

    This document, provided by your Loan Officer, will save you time when looking for a home that fits your needs. It indicates:

    • the amount the bank is willing to lend you
    • what your monthly payment will be
    • the type of loan you might qualify for 
  6. Request a pre-approval

    If you haven’t identified or optioned a property, you may also request a mortgage pre-approval during your initial visit. We will gladly evaluate your income, credit, and debts to identify the loan amount you are eligible for. Visit us at one of our Mortgage Centers!  

    Pre-approval does not constitute a loan request. It will be provided no later than 72 hours after it is requested, and interests are guaranteed for 30 days after the date it is granted. 

  7. Search for your ideal home

    Start your search across classified ads, listings, or the internet, or hire a real estate agent to help you find the home of your dreams. 

    Keep in mind that acquiring a home is an investment in your future, and it will influence every aspect of your family life. Make sure it fits your needs. Research locations, the number of rooms and bathrooms, among others. 

  8. Present your mortgage request

    Fill out the online mortgage request here. If you prefer, visit one of our Mortgage Centers and complete it with one of our Loan Officers.

  9. Approval and processing of your loan

    Your case is assigned to an analyst to confirm if you qualify for the offer made during the interview. The analyst is responsible for verifying all your data, evaluating it, and recommending the product and the offer that best fits your needs. 

    During this step: 

    • Income, assets, and debts of the applicant are verified
    • An appraisal of the property is done to determine its market value
    • The availability of funds to close the loan is confirmed 
  10. Closing

    You did it!

    The closing is the last meeting where all parties sign the final documents and the property is legally transferred to you.

    After signing the deed before a notary, the notary inscribes the transaction in the Property Registry. The mortgage process is completed, and you are the official owner of your home. 

    Congratulations! Now it’s time to enjoy your new home.

How long does the whole process take?


It mostly depends on how ready you are to complete it And if the property has no legal issues or repairs to get done before closing. 

Your Loan Officer is responsible for clearly guiding you step by step through each mortgage stage. 

At FirstMortgage, our Loan Officers are available to help you from start to finish. We are here to serve you. 

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