The Mortgage Loan Process: an Overview

There is little question ; getting a mortgage loan is a complicated process. You wouldn't be looking up loan information if you could get a mortgage loan in a single day by filling out a simple application. But Executive Lending Group, LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary 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? 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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 step is where Executive Lending Group, LLC will begin to save you money. You will provide details on your employment, your assets, and residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be 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 picking out the home that's right for you, we're busy researching the loan program that's just right for your unique situation.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, it's time to complete the loan application. Applying for a loan could not get much easier; you can apply right here on our site. Finally, we'll order an appraisal of your new home.

Step four: funding

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 need are avaiailable, and you will probably}likely sign all these papers at this company's officeWe coordinate with the title company to set your closing date. Since you don't have to worry with this coordination, you get to concentrate on moving logistics, if you're going to repaint, new carpet, and all the details of getting a new home.

You've answered a few questions, provided detailed information, applied , and Before you know it, you're moving in! Executive Lending Group, LLC is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?

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!