How the Mortgage Loan Process Works

No doubt, a lot to do in oder to get a mortgage. You wouldn't be researching mortgage loans if it were possible to get a loan in a single day with a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a loan involves four major milestones.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will give us details on your employment, assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. We will review all this info then will give you a pre-qualification letter. Be careful with this letter — it is a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on the home that's right for you, we're busy researching the loan program that's right for you.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our website. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" and closing. We'll coordinate with this company to ensure the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to work with with this company to set your date to close. Since you will not have to coordinate this process, you get to think about the move, painting, 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 do the mortgage legwork so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Executive Lending Group, LLC at (816) 525-8000 & (81. We answer questions about the loan process every day.

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