June 21, 2025 • 11 mins
Applying for a mortgage can feel like stepping into a maze of paperwork, rates, and pressure. In this episode, Ralph breaks down what makes the mortgage process so intimidating—and how you can approach it with clarity and confidence. From understanding loan types to finding the right lender, this episode will guide you through navigating mortgage maze decisions with faith and wisdom.
Check out the full podcast episode here
You’ll learn practical tips for getting pre-approved, comparing lenders, and making sure your loan terms actually support your long-term financial peace. Ralph reminds us that shopping for a mortgage isn’t just about securing a house—it’s about faithful stewardship.
Chapters:
- 00:03 - Navigating the Mortgage Application Process
- 01:16 - Navigating the Mortgage Process
- 04:10 - Navigating the Mortgage Process
- 04:54 - Navigating the Mortgage Process
- 08:10 - Navigating the Mortgage Maze
- 09:58 - Preparing for Closing Costs in Home Buying
Takeaways:
- Preparing your finances is essential before diving into the mortgage application process.
- Getting pre-approved for a mortgage is a smart move before shopping for a home.
- Shopping around for lenders can save you a ton of cash in the long run.
- Understanding different loan types is crucial for making an informed decision about your mortgage.
Links referenced:
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Ralph (00:00):
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 loantypes, interest rates, paperwork.
It can feel like anabsolutely confusing maze.
How do you find the right mortgagewithout losing your peace?
Well, stick with me today 'causeI'm gonna share how to navigate this
(00:21):
process with confidence on today's show.
Hey there.
Welcome back to your Daily,financially Confident Christian.
(00:42):
I'm Ralph and it is greatto be with you again today.
As always, this is the show thathelps you answer that very pressing
question, how can I become afinancially confident Christian?
And we're deep into the topic of homeownership as we continue our series
dealing with the stress of money worries.
So you've done the vital workof assessing your affordability.
(01:02):
You know what you'recomfortable in buying.
You've prepared your finances, you'resaving now for the down payment.
You're building those reservesand 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 ofactually doing the financing of that home.
. And for many, the mortgage applicationis the most complex, and trust me, the
(01:26):
most stressful part of buying a home.
There's a lot of optionsand a ton of paperwork.
So let's ask this question today.
How do I navigate the mortgagemaze and get a good loan without
adding unnecessary stress?
That's a real good thing to talk abouttoday because I bet you've heard the
stories, piles of documents requested,confusing terms, trying to compare offers
(01:48):
with different lenders, worrying if you'lleven 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 makingthe wrong choice on a loan type.
Am I getting a fixed rateor an adjustable rate?
(02:11):
am I getting the best interestrate or am I, am I going to hit
these unexpected roadblocks?
And those roadblocks, lemme just tellyou right now, they can even delay or
derail your home purchase altogether.
And then let's not even talkabout the sheer amount of
financial information required.
There's a bundle of stuff you getand the high stakes involved with
such a large loan and that canjust truly add significant anxiety.
(02:35):
But here's the thingyou need to understand.
I want you to accept thisat the very beginning.
The mortgage process is complex.
It's not simple, but you don'thave to navigate it blindly.
If you understand the basics and you'reprepared, that will help you tremendously.
Think of it like seeking wisdom andcounsel for a major decision, which
is exactly what the Bible encourages.
(02:56):
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 withwise counsel comes victory.
We definitely want victoryover this mortgage process.
And look at Proverbschapter 24, verse six.
It says this, surely youneed guidance to wage war.
(03:19):
And victory is won through many advisors.
And like I said, a mortgage isn't anation, but we all need to seek wise
counsel from trusted advisors, trustedlenders, and get a better understanding
of the process because that's crucialfor victory in securing a good loan.
And this is going to be a battle.
Approach this process with diligenceand approach it with a prayer
(03:41):
for heart, trusting that God canprovide clarity and guide you.
Right.
To the final part of this financing, andagain, I'm gonna reiterate this again,
this is truly an act of responsiblestewardship to ensure the terms of
your largest debt for most people.
Buying a home is goingto be your largest debt.
So you wanna make sure the termsare favorable and more importantly,
(04:03):
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 andthe 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 onthe basic types of the mortgages.
(04:26):
Shop around with multiple lenders.
Get that pre-approval before you eventhink about making an offer on a home.
And I'm gonna say somethingthat's gonna be a little bit
outside the realm of Normalness.
I'm gonna say get that pre-approval letterbefore you even go shopping for a home.
'cause you gotta understand what youactually can afford and what you're
going to be able to qualify for.
(04:47):
Because this proactive approachempowers you, I wanna empower
you today with knowledge that canstrengthen your position as a buyer.
So, okay, here's your one vital actionstep for today, specifically focused
on navigating the mortgage process.
It all starts with a basicunderstanding of the mortgage type.
So I'm gonna encourage you totake 20 or 30 minutes and research
(05:07):
the different types of loans.
You know, that could be something likea fixed rate loan where the interest
rate stays the same over the life of theloan, gives you stability in the rate.
Or maybe for you it's anadjustable rate where the interest
rate can change periodically.
Sometimes that gives you alower initial payment, but then
introduces some uncertainty.
There's pros and cons for bothand consider which of those loans
(05:28):
might fit your financial planand 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'trealize that you can do this.
Yes, you can shop around for lenders.
You don't have to justgo to the first bank.
You think of, you don'thave to go to the person.
Well, you know, the, the, the realtorsaid, I need to use this person,
(05:49):
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 differentreputable mortgage lenders.
Now, I'm not saying to go through thewhole process with them because you
don't want them pulling credit and allthat 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
(06:12):
the best interest because the truth is.
Interest rates and fees can varysignificantly, 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-approvalprocess 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 liketheir service, all that kind of stuff.
(06:35):
Then get through the pre-approvalwith one of those lenders.
'cause they're gonna reviewyour financial information.
They're gonna look at your income,they're gonna look at your assets,
they're gonna pull your credit, andthey'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 checkagain and go back and think, am I
comfortable borrowing that much money?
(06:57):
Because like I said, just because youqualify for a certain amount doesn't
mean you should borrow this much.
So stick to what youcan comfortably afford.
Like we talked about in episode one 70.
And here's the thing, thatpre-approval letter shows sellers
that you're a serious buyer.
And to be honest with you, most sellersaren't even gonna entertain even showing
you the home or even giving you anopportunity to make an offer until
(07:19):
you've got that pre-approval letter.
Now you're asking Ralph, okay, this allsounds great, but why does this help?
Because it fights that struggleand that stress of feeling
lost in the mortgage maze.
And that can be a lost.
I remember when I bought my firsthouse, I was like 21 or 22 years old,
I bought this townhouse and I rememberI kept a book about this thick of all
the documents that I had to go through.
(07:39):
I mean, the thing must havebeen three inches wide.
'cause it was like,okay, ask this question.
Ask this question.
It's important because it's real easyto get lost in that mortgage maze.
I'm gonna encourage you to educateyourself because it's going to replace
that confusion and you're gonna have abetter understanding what's going on.
As I encourage shop around, couldsave you thousands of dollars
(08:00):
over the life of the loan.
Get that pre-approval letter 'causethat's gonna streamline the process.
And in the end, all of this puts you ina more informed and empowered position.
Let's pray together now.
Father God, we just thank you forguiding us in managing our finances.
And Lord, we confess to you right now thatthe mortgage process feels complex and
(08:20):
it can bring significant stress to us.
So we, this ask that you would grant usclarity and grant us understanding as
we learn about the different loan typesand really shop around for lenders.
Show us what's out there Lord, andlead us to reputable individuals
who can offer that wise counselthat your Word talks about.
Guide us in that pre-approvalprocess and help us to remember what
(08:41):
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 mortgagemaze intimidate you.
Many people have gone through it.
You can get through this as well.
(09:02):
Just empower yourself with knowledge.
Shop around wisely.
Get that pre-approval based onyour comfortable affordability.
Because listen, you're takingintentional steps towards securing
your home financing, and if thisepisode has impacted you in a
positive way, I'm gonna encourageyou to share it with somebody else.
There's a lot of people thatare going through this process.
Maybe you share the lastfew episodes with them.
(09:24):
You can find resources and connectwith the show at our website
that's at financially confidentchristian.com, and I've got a
special gift for you on your journey.
For the first 100 listenerswho go to financially confident
christian.com/master, I'm gonnagive 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
(09:46):
break that cycle of financial shame.
Step into confidence.
Again, you get that by goingto financially confident
christian.com/master, andI'm gonna encourage you to
go get your free copy today.
Now, tomorrow we're gonna be talkingabout part of the home buying that
often surprises people and can causesome last minute stress, and that's
understanding and more importantly,preparing for those closing costs.
(10:09):
This has been a surprise to somepeople 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 youhave a great day today.
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 loantypes, interest rates, paperwork.
It can feel like anabsolutely confusing maze.
How do you find the right mortgagewithout losing your peace?
Well, stick with me today 'causeI'm gonna share how to navigate this
(00:21):
process with confidence on today's show.
Hey there.
Welcome back to your Daily,financially Confident Christian.
(00:42):
I'm Ralph and it is greatto be with you again today.
As always, this is the show thathelps you answer that very pressing
question, how can I become afinancially confident Christian?
And we're deep into the topic of homeownership as we continue our series
dealing with the stress of money worries.
So you've done the vital workof assessing your affordability.
(01:02):
You know what you'recomfortable in buying.
You've prepared your finances, you'resaving now for the down payment.
You're building those reservesand 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 ofactually doing the financing of that home.
. And for many, the mortgage applicationis the most complex, and trust me, the
(01:26):
most stressful part of buying a home.
There's a lot of optionsand a ton of paperwork.
So let's ask this question today.
How do I navigate the mortgagemaze and get a good loan without
adding unnecessary stress?
That's a real good thing to talk abouttoday because I bet you've heard the
stories, piles of documents requested,confusing terms, trying to compare offers
(01:48):
with different lenders, worrying if you'lleven 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 makingthe wrong choice on a loan type.
Am I getting a fixed rateor an adjustable rate?
(02:11):
am I getting the best interestrate or am I, am I going to hit
these unexpected roadblocks?
And those roadblocks, lemme just tellyou right now, they can even delay or
derail your home purchase altogether.
And then let's not even talkabout the sheer amount of
financial information required.
There's a bundle of stuff you getand the high stakes involved with
such a large loan and that canjust truly add significant anxiety.
(02:35):
But here's the thingyou need to understand.
I want you to accept thisat the very beginning.
The mortgage process is complex.
It's not simple, but you don'thave to navigate it blindly.
If you understand the basics and you'reprepared, that will help you tremendously.
Think of it like seeking wisdom andcounsel for a major decision, which
is exactly what the Bible encourages.
(02:56):
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 withwise counsel comes victory.
We definitely want victoryover this mortgage process.
And look at Proverbschapter 24, verse six.
It says this, surely youneed guidance to wage war.
(03:19):
And victory is won through many advisors.
And like I said, a mortgage isn't anation, but we all need to seek wise
counsel from trusted advisors, trustedlenders, and get a better understanding
of the process because that's crucialfor victory in securing a good loan.
And this is going to be a battle.
Approach this process with diligenceand approach it with a prayer
(03:41):
for heart, trusting that God canprovide clarity and guide you.
Right.
To the final part of this financing, andagain, I'm gonna reiterate this again,
this is truly an act of responsiblestewardship to ensure the terms of
your largest debt for most people.
Buying a home is goingto be your largest debt.
So you wanna make sure the termsare favorable and more importantly,
(04:03):
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 andthe 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 onthe basic types of the mortgages.
(04:26):
Shop around with multiple lenders.
Get that pre-approval before you eventhink about making an offer on a home.
And I'm gonna say somethingthat's gonna be a little bit
outside the realm of Normalness.
I'm gonna say get that pre-approval letterbefore you even go shopping for a home.
'cause you gotta understand what youactually can afford and what you're
going to be able to qualify for.
(04:47):
Because this proactive approachempowers you, I wanna empower
you today with knowledge that canstrengthen your position as a buyer.
So, okay, here's your one vital actionstep for today, specifically focused
on navigating the mortgage process.
It all starts with a basicunderstanding of the mortgage type.
So I'm gonna encourage you totake 20 or 30 minutes and research
(05:07):
the different types of loans.
You know, that could be something likea fixed rate loan where the interest
rate stays the same over the life of theloan, gives you stability in the rate.
Or maybe for you it's anadjustable rate where the interest
rate can change periodically.
Sometimes that gives you alower initial payment, but then
introduces some uncertainty.
There's pros and cons for bothand consider which of those loans
(05:28):
might fit your financial planand 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'trealize that you can do this.
Yes, you can shop around for lenders.
You don't have to justgo to the first bank.
You think of, you don'thave to go to the person.
Well, you know, the, the, the realtorsaid, I need to use this person,
(05:49):
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 differentreputable mortgage lenders.
Now, I'm not saying to go through thewhole process with them because you
don't want them pulling credit and allthat 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
(06:12):
the best interest because the truth is.
Interest rates and fees can varysignificantly, 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-approvalprocess 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 liketheir service, all that kind of stuff.
(06:35):
Then get through the pre-approvalwith one of those lenders.
'cause they're gonna reviewyour financial information.
They're gonna look at your income,they're gonna look at your assets,
they're gonna pull your credit, andthey'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 checkagain and go back and think, am I
comfortable borrowing that much money?
(06:57):
Because like I said, just because youqualify for a certain amount doesn't
mean you should borrow this much.
So stick to what youcan comfortably afford.
Like we talked about in episode one 70.
And here's the thing, thatpre-approval letter shows sellers
that you're a serious buyer.
And to be honest with you, most sellersaren't even gonna entertain even showing
you the home or even giving you anopportunity to make an offer until
(07:19):
you've got that pre-approval letter.
Now you're asking Ralph, okay, this allsounds great, but why does this help?
Because it fights that struggleand that stress of feeling
lost in the mortgage maze.
And that can be a lost.
I remember when I bought my firsthouse, I was like 21 or 22 years old,
I bought this townhouse and I rememberI kept a book about this thick of all
the documents that I had to go through.
(07:39):
I mean, the thing must havebeen three inches wide.
'cause it was like,okay, ask this question.
Ask this question.
It's important because it's real easyto get lost in that mortgage maze.
I'm gonna encourage you to educateyourself because it's going to replace
that confusion and you're gonna have abetter understanding what's going on.
As I encourage shop around, couldsave you thousands of dollars
(08:00):
over the life of the loan.
Get that pre-approval letter 'causethat's gonna streamline the process.
And in the end, all of this puts you ina more informed and empowered position.
Let's pray together now.
Father God, we just thank you forguiding us in managing our finances.
And Lord, we confess to you right now thatthe mortgage process feels complex and
(08:20):
it can bring significant stress to us.
So we, this ask that you would grant usclarity and grant us understanding as
we learn about the different loan typesand really shop around for lenders.
Show us what's out there Lord, andlead us to reputable individuals
who can offer that wise counselthat your Word talks about.
Guide us in that pre-approvalprocess and help us to remember what
(08:41):
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 mortgagemaze intimidate you.
Many people have gone through it.
You can get through this as well.
(09:02):
Just empower yourself with knowledge.
Shop around wisely.
Get that pre-approval based onyour comfortable affordability.
Because listen, you're takingintentional steps towards securing
your home financing, and if thisepisode has impacted you in a
positive way, I'm gonna encourageyou to share it with somebody else.
There's a lot of people thatare going through this process.
Maybe you share the lastfew episodes with them.
(09:24):
You can find resources and connectwith the show at our website
that's at financially confidentchristian.com, and I've got a
special gift for you on your journey.
For the first 100 listenerswho go to financially confident
christian.com/master, I'm gonnagive 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
(09:46):
break that cycle of financial shame.
Step into confidence.
Again, you get that by goingto financially confident
christian.com/master, andI'm gonna encourage you to
go get your free copy today.
Now, tomorrow we're gonna be talkingabout part of the home buying that
often surprises people and can causesome last minute stress, and that's
understanding and more importantly,preparing for those closing costs.
(10:09):
This has been a surprise to somepeople 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 youhave a great day today.
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