How the Loan Process Works

There can be little question ; getting a mortgage loan is a complicated process. 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 main steps involved in obtaining a loan.

Step one: determine how much you can borrow

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: pre-qualify for your loan

This is where Executive Lending Group will begin to save you money. You will provide information about your current job, assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. When we review this information we provide a letter of pre-qualification. Be careful with this letter — it can be a useful tool for buying your new home! 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 looking for a new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've made the offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. Finally, we will order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to find a title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender will require are in order, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with this company on your closing date. Because you will not need to worry about these details, you can concentrate on moving logistics, paint colors, carpet, and all the details of getting your new house.

You've answered a few questions, given us detailed information, applied , and Before you know it, you'll be moving in! Executive Lending Group is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call Executive Lending Group at 4056158543. We answer questions about the loan process every day.