The Loan Process: an Overview

There's quite a lot involved when you get a mortgage loan. You wouldn't be here on our website if it were possible to complete a simple loan app and get the best 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 primary steps involved in obtaining a mortgage loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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. 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: 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 on your current job, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. Your REALTOR® should use the pre-qual (as they may call it) to make the best offer on the home you choose. 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've made an offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not get much easier; you can apply online right here on our site. Finally, we'll 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 an escrow/title company to handle the funding of your loan. We'll work with this company to make sure all the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at their officeWe coordinate with this company to set your closing date. Since you don't need to worry about these details, you can concentrate on the move, paint colors, carpet, and all the details of getting your new home.

You've answered some few questions, provided detailed information, applied , and Before you know it, you'll be moving! Executive Lending Group, LLC is in the business of mortgage loans; 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. We answer questions about the loan process every day.