About the Loan Process
No doubt, a lot involved in oder to get a mortgage. You wouldn't be here on our site if it were possible to fill out a one-page loan app and get a great loan funded 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 important steps involved in obtaining a mortgage loan.
Step one: Decide how much you can afford
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. 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: pre-qualify for your loan
This is where the process really begins and Executive Lending Group, LLC can really save you money. You will give us details on your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've reviewed this information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for your new home, we are researching the best loan for you.
Once you have signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan couldn't be much easier; you can apply any time right here on our site. Finally, we'll order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan once it has been approved. We'll work with this company to ensure all the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company to set your date of closing. Because you will not have to worry with this coordination, you can think about the move, painting, carpet, and the fun parts of moving into a new home.
You've answered some few questions, provided detailed information, applied , and before you know it, you are deciding when to move in! We take care of the legwork so you can focus on finding your new home.
Have questions about the loan process? Call Executive Lending Group, LLC at (816) 525-8000. It's our job to answer lending questions, so we're happy to help!