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

Make no mistake, there's a lot to do in oder to get a mortgage loan. You wouldn't be visiting our website if it were possible to fill out a one-page mortgage application and receive the best loan funded in one day. 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 mortgage loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. 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 the process really begins and Executive Lending Group can really save you money. You will give us information about your employment, your assets, and residence history. You'll supply your employment, asset, and residence history information. We run your credit score and report. After we've finished reviewing this information, we'll provide you with a pre-qualificaiton letter. Your agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new home, we are researching the best loan for you.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, it's time to complete the loan application. It's very easy, and you can apply online, right here on our site. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your date of closing. Since you will not have to worry about these details, you can concentrate on moving logistics, paint colors, new carpet, and the fun parts of getting a new house.

You've answered a few questions, provided detailed information, applied online, and the next thing you know, you're deciding when to move in! Executive Lending Group is in the business of loans; you're not — so take care of the details. Doesn't that sound nice?

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