The Four Steps of the Loan Process:The Loan Process: Four Steps

There's little doubt ; getting a mortgage is a complicated process. You wouldn't be visiting our website if it were possible to complete a simple application and get the best loan funded 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.

Getting a mortgage loan involves four major milestones.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. 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? 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: complete a pre-qualification

This is where the rubber meets the road and Executive Lending Group can really save you money. You will give us info about your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). After we have reviewed this info we will give you a letter of pre-qualification. Your real estate agent will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for the home that's right for you, we're busy finding the loan that's just right for your situation.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan. We'll coordinate with this company to ensure all the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company to set your date to close. Since you won't have to coordinate this process, you get to think about moving logistics, painting, carpet, and the fun parts of getting your new home.

You've answered some few questions, given us detailed information, applied , and Before you know it, you're moving! 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 at 4056158543. Executive Lending Group answers loan process questions every day.