IFC Loans will begin the work of verifying all the information you've provided. This process can take anywhere from one to three weeks, depending on the type of mortgage your choose, whether you're buying a home outside your local community, or a host of other factors.

Within three business days after your application, IFC Loans will give you an estimate of your closing costs. (The closing is the actual settlement of your loan.) You'll also get a statement that shows your estimated monthly payment, the cost of your finance charges, and other facts about your mortgage.

For many home buyers, this waiting period can be nerve-wracking. So be prepared to answer any questions that might come up -- and remember that IFC Loans is in the business of making loans, not denying them. Some home buyers find the closing process to be one of the most intimidating aspects of buying a home because it's so unfamiliar. Ask IFC Loans what to expect at your closing.