An Overview of the Mortgage Loan Process

There is no doubt ; getting a mortgage is a complex process. You would not be researching mortgage loans if you could get a mortgage loan in a single day with 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.

Getting a mortgage loan involves four major steps.

Step one: determine how much you can borrow

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? 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. 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 step is where Executive Lending Group, LLC will start saving you money. You will supply info about your current job, your assets, and your 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 reviewed the provided information, we'll provide you with a pre-qualificaiton letter. Your real estate agent will likely 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 shopping for your new home, we're busy researching the loan that's just right for you.

Step three: apply now! We make it easy

After you've signed the offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. At the end of this step, we will order the appraisal of your new home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign everything at their officeWe work with with the title company on your date of closing. Because you won't have to worry about these details, you get to think about moving, paint colors, carpet, and the fun parts of getting a new house.

You've answered some few questions, given us lots of information, applied , and the next thing you know, you're deciding when to move in! We take care of the loan details so you can focus on finding your new home.

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