An Overview of the Mortgage Loan Process

There's a lot involved when you get a mortgage loan. You would not be looking up loan information if it were possible to get a mortgage loan in one day by filling out a simple application. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

There are four primary steps involved in obtaining a mortgage loan.

Step one: Decide how much you can afford

This is a function of a couple things. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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: complete a pre-qualification

This is where the rubber meets the road and Executive Lending Group, LLC can really save you money. You will provide info about your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We pull your credit score and report. We'll review all this info then will provide a letter of pre-qualification. 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. The pre-qual letter gives you buying clout! While you're deciding on your new home, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, you should complete the loan application. It's very easy, and you can do it online, right here on our website. Finally, we will order an appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll coordinate with this company to ensure all the papers your lender requires are in order, and you'll probably}likely sign everything at their officeWe do all the work to work with with the title company to set your date to close. Since you won't need to coordinate this process, you get to think about the move, painting, new carpet, and the details involved in moving into your new home.

You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving! Executive Lending Group, LLC is a mortgage specialist; you're not — so we do the work. Doesn't that sound nice?

Have questions about the loan process? Call Executive Lending Group, LLC at 8165258000. Executive Lending Group, LLC answers loan process questions every day.