How the Loan Process Works
There's a lot to do when you get a mortgage. You wouldn't be here on our website if it were possible to fill out a one-page loan app and get a great loan check cut the same day. But Executive Lending Group, LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four main steps involved in obtaining a loan.
Step one: Decide on your maximum loan amount
This is a function of a couple things. 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? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: pre-qualify for your loan
This is where the process really begins and Executive Lending Group, LLC can really save you money. You will supply details about your current job, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out your new home, we're busy researching the loan that's just right for your unique situation.
After you've signed the offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan once it has been approved. We'll work with this company to make sure the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe do all the work to work with with this company to set your date to close. Because you don't need to worry with this coordination, you can concentrate on moving logistics, painting, new carpet, and the details involved in getting your new home.
You've answered a few questions, given us lots of information, applied , and Before you know it, you're moving! We take care of the loan details so you can spend your time finding your new home.
Have questions about the loan process? Call Executive Lending Group, LLC at 8165258000. It's our job to answer lending questions, so we're happy to help!