An Overview of the Mortgage Loan Process

There's little question ; getting a mortgage loan is a complicated process. You would not be looking up loan information if it were possible to get a loan in a single 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.

Getting a home loan involves four major steps.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. 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. 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 Executive Lending Group can start saving you money. You will provide information on your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your real estate agent will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're deciding on your new home, we are researching the best loan for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers accept it, you should apply for the loan. It's very easy, and you can do it online, right here on our site. After the offer has been accepted and you have applied for your loan, we will order the professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will work together to designate an escrow/title company to handle the funding of your loan. We'll work with this company to make sure all the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company to set your date of closing. Because you won't need to worry with this coordination, you can think about moving logistics, painting, new carpet, and the details involved in getting your new house.

You've answered a few questions, given us lots of information, applied , and before you know it, you are moving in! We take care of the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Executive Lending Group at 4056158543. It's our job to answer lending questions, so we're happy to help!