You've saved, you've prepared, and you know you can afford it.

But now comes the step.

Most people find intimidating, and that's actually applying

for a mortgage, different loan types, interest rates, paperwork.

It can feel like an absolutely confusing maze.

How do you find the right mortgage without losing your peace?

Well, stick with me today 'cause I'm gonna share how to navigate this

process with confidence on today's show.

Hey there.

Welcome back to your Daily, financially Confident Christian.

I'm Ralph and it is great to be with you again today.

As always, this is the show that helps you answer that very pressing

question, how can I become a financially confident Christian?

And we're deep into the topic of home ownership as we continue our series

dealing with the stress of money worries.

So you've done the vital work of assessing your affordability.

You know what you're comfortable in buying.

You've prepared your finances, you're saving now for the down payment.

You're building those reserves and you're polishing your credit.

And let me just tell you right now, preparation is the key in all of this, but

today we're gonna step into the process of actually doing the financing of that home.

. And for many, the mortgage application is the most complex, and trust me, the

most stressful part of buying a home.

There's a lot of options and a ton of paperwork.

So let's ask this question today.

How do I navigate the mortgage maze and get a good loan without

adding unnecessary stress?

That's a real good thing to talk about today because I bet you've heard the

stories, piles of documents requested, confusing terms, trying to compare offers

with different lenders, worrying if you'll even ever get approved at the end of this.

The struggle of the mortgage process, is very complex and a feeling of

being outta control is very common.

And a lot of people have said, Ralph, I just feel like I'm

at the mercy of the lender.

I make you feel stressed about making the wrong choice on a loan type.

Am I getting a fixed rate or an adjustable rate?

am I getting the best interest rate or am I, am I going to hit

these unexpected roadblocks?

And those roadblocks, lemme just tell you right now, they can even delay or

derail your home purchase altogether.

And then let's not even talk about the sheer amount of

financial information required.

There's a bundle of stuff you get and the high stakes involved with

such a large loan and that can just truly add significant anxiety.

But here's the thing you need to understand.

I want you to accept this at the very beginning.

The mortgage process is complex.

It's not simple, but you don't have to navigate it blindly.

If you understand the basics and you're prepared, that will help you tremendously.

Think of it like seeking wisdom and counsel for a major decision, which

is exactly what the Bible encourages.

Look at the book of Proverbs, chapter 11, verse 14 says this.

Now, we're not talking about nations, but I thought this was really

appropriate for the lack of guidance.

A nation falls, but with wise counsel comes victory.

We definitely want victory over this mortgage process.

And look at Proverbs chapter 24, verse six.

It says this, surely you need guidance to wage war.

And victory is won through many advisors.

And like I said, a mortgage isn't a nation, but we all need to seek wise

counsel from trusted advisors, trusted lenders, and get a better understanding

of the process because that's crucial for victory in securing a good loan.

And this is going to be a battle.

Approach this process with diligence and approach it with a prayer

for heart, trusting that God can provide clarity and guide you.

Right.

To the final part of this financing, and again, I'm gonna reiterate this again,

this is truly an act of responsible stewardship to ensure the terms of

your largest debt for most people.

Buying a home is going to be your largest debt.

So you wanna make sure the terms are favorable and more importantly,

that they're manageable.

So now you're thinking, Ralph, that sounds very complicated.

You already told us this was complex.

What can we do?

How do we cut through the confusion and the stress of that mortgage maze to really

get to the end and secure a good loan?

Well, as always, I've got an answer.

My answer today is pretty straightforward.

Starts with educating yourself on the basic types of the mortgages.

Shop around with multiple lenders.

Get that pre-approval before you even think about making an offer on a home.

And I'm gonna say something that's gonna be a little bit

outside the realm of Normalness.

I'm gonna say get that pre-approval letter before you even go shopping for a home.

'cause you gotta understand what you actually can afford and what you're

going to be able to qualify for.

Because this proactive approach empowers you, I wanna empower

you today with knowledge that can strengthen your position as a buyer.

So, okay, here's your one vital action step for today, specifically focused

on navigating the mortgage process.

It all starts with a basic understanding of the mortgage type.

So I'm gonna encourage you to take 20 or 30 minutes and research

the different types of loans.

You know, that could be something like a fixed rate loan where the interest

rate stays the same over the life of the loan, gives you stability in the rate.

Or maybe for you it's an adjustable rate where the interest

rate can change periodically.

Sometimes that gives you a lower initial payment, but then

introduces some uncertainty.

There's pros and cons for both and consider which of those loans

might fit your financial plan and your risk tolerance best.

So once you do that, you figure out, yes.

I wanna get a fixed rate loan, then I'm gonna encourage you

to shop around for lenders.

And a lot of people don't realize that you can do this.

Yes, you can shop around for lenders.

You don't have to just go to the first bank.

You think of, you don't have to go to the person.

Well, you know, the, the, the realtor said, I need to use this person,

or, or I gotta use this person.

I don't agree with that at all.

I'm gonna tell you right now.

Every time I've went and bought a home, I've actually had lenders competing.

So go find two or three different reputable mortgage lenders.

Now, I'm not saying to go through the whole process with them because you

don't want them pulling credit and all that kind of stuff, but look at banks.

Look at credit unions.

Go to a mortgage broker.

Mortgage brokers are great for this 'cause they can shop around and get you

the best interest because the truth is.

Interest rates and fees can vary significantly, but if you shop around,

you're going to get the best terms.

And like I said before, get pre-approved.

This is a vital step.

Go through that pre-approval process with at least one lender.

So once you've narrowed it down to, I'm gonna pick these three lenders,

I like their rate and terms, I like their service, all that kind of stuff.

Then get through the pre-approval with one of those lenders.

'cause they're gonna review your financial information.

They're gonna look at your income, they're gonna look at your assets,

they're gonna pull your credit, and they're really gonna tell you again

how much you qualify to borrow.

And as I talked about two shows ago, just because they tell you you qualify

for something, we gotta do a gut check again and go back and think, am I

comfortable borrowing that much money?

Because like I said, just because you qualify for a certain amount doesn't

mean you should borrow this much.

So stick to what you can comfortably afford.

Like we talked about in episode one 70.

And here's the thing, that pre-approval letter shows sellers

that you're a serious buyer.

And to be honest with you, most sellers aren't even gonna entertain even showing

you the home or even giving you an opportunity to make an offer until

you've got that pre-approval letter.

Now you're asking Ralph, okay, this all sounds great, but why does this help?

Because it fights that struggle and that stress of feeling

lost in the mortgage maze.

And that can be a lost.

I remember when I bought my first house, I was like 21 or 22 years old,

I bought this townhouse and I remember I kept a book about this thick of all

the documents that I had to go through.

I mean, the thing must have been three inches wide.

'cause it was like, okay, ask this question.

Ask this question.

It's important because it's real easy to get lost in that mortgage maze.

I'm gonna encourage you to educate yourself because it's going to replace

that confusion and you're gonna have a better understanding what's going on.

As I encourage shop around, could save you thousands of dollars

over the life of the loan.

Get that pre-approval letter 'cause that's gonna streamline the process.

And in the end, all of this puts you in a more informed and empowered position.

Let's pray together now.

Father God, we just thank you for guiding us in managing our finances.

And Lord, we confess to you right now that the mortgage process feels complex and

it can bring significant stress to us.

So we, this ask that you would grant us clarity and grant us understanding as

we learn about the different loan types and really shop around for lenders.

Show us what's out there Lord, and lead us to reputable individuals

who can offer that wise counsel that your Word talks about.

Guide us in that pre-approval process and help us to remember what

we truly can afford comfortably.

Grant us peace and grant us wisdom, Lord, in securing a mortgage that aligns with

your plan for our financial wellbeing.

And we ask this in confidence.

In Jesus' name, Amen.

Listen.

Don't let the mortgage maze intimidate you.

Many people have gone through it.

You can get through this as well.

Just empower yourself with knowledge.

Shop around wisely.

Get that pre-approval based on your comfortable affordability.

Because listen, you're taking intentional steps towards securing

your home financing, and if this episode has impacted you in a

positive way, I'm gonna encourage you to share it with somebody else.

There's a lot of people that are going through this process.

Maybe you share the last few episodes with them.

You can find resources and connect with the show at our website

that's at financially confident christian.com, and I've got a

special gift for you on your journey.

For the first 100 listeners who go to financially confident

christian.com/master, I'm gonna give you a free copy of my book.

It's called Mastering Your Finances.

It's quick, it's a powerful redesign, is a starting point to really help you

break that cycle of financial shame.

Step into confidence.

Again, you get that by going to financially confident

christian.com/master, and I'm gonna encourage you to

go get your free copy today.

Now, tomorrow we're gonna be talking about part of the home buying that

often surprises people and can cause some last minute stress, and that's

understanding and more importantly, preparing for those closing costs.

This has been a surprise to some people that I've worked with over the

years, so you don't wanna miss it.

So make sure you join me now.

Let's all go out there and be financially.

Confident Christians, you can do this.

I have confidence in you.

Have confidence in yourself.

Stay financially savvy.

God bless you, and you have a great day today.