The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
No doubt, quite a lot to do in oder to get a mortgage. You wouldn't be researching mortgage loans 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 important steps involved in obtaining a loan.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. 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. 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 info on your current job, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). We will review all this information then will give you a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for a new home with your real estate agent, we find the best program for you.
Once you have made the offer and it's been accepted, you should complete the loan application. Applying for a loan could not be much easier; you can apply any time right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.
Step four: your loan is funded
The real estate agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure all the papers your lender needs are avaiailable, and you will probably}likely sign everything at their officeWe work with with this company on your closing date. Since you will not need to worry about these details, you can concentrate on moving logistics, paint colors, carpet, and the details involved in getting your new home.
You've answered a few questions, given us detailed information, applied , and Before you know it, you're moving in! Executive Lending Group, LLC is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??
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!