About the Loan Process
There is no question ; getting a mortgage is a complex process. You wouldn't be visiting our site if it were possible to complete a simple application and get a great loan check cut in one day. We do 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. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? 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. 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 Executive Lending Group, LLC can start to save you money. You will provide information about your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. When we review this information we provide a letter of pre-qualification. Be careful with this letter — it can be a great tool when you make your offer! Your real estate agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for the home that's right for you, we're busy finding the loan that's right for you.
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. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will work together to decide on a title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender requires are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company to set your closing date. Because you don't have to coordinate this process, you get to concentrate on moving, if you're going to repaint, carpet, and the fun parts of getting your new home.
You've answered a few questions, provided lots of information, applied online, and Before you know it, you'll be moving! Executive Lending Group, LLC is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?
Have questions about the loan process? Call Executive Lending Group, LLC at 8165258000. Executive Lending Group, LLC answers loan process questions every day.