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

There is no doubt that getting a mortgage loan is a complex process. You wouldn't be visiting our site if it were possible to fill out a simple loan app 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 important steps involved in getting a 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? 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. 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 step is where Executive Lending Group will begin to save you money. You will give us information on 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 (with your permission. After we've finished reviewing your information, we'll give you a pre-qualificaiton letter. Your agent will use your 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 shopping for a new house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

Once you've made the offer and the sellers have accepted, you should complete the loan application. Applying for your loan could not be much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we will order the appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to find an escrow/title company to handle the funding of your loan. We'll coordinate with this company to ensure all the papers your lender needs are in order, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company on your closing date. Because you don't have to coordinate this process, you can concentrate on moving, paint colors, new carpet, and all the details of getting a new home.

You've answered a few questions, provided detailed information, applied , and the next thing you know, you are deciding when to move in! We do the legwork 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.

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Executive Lending Group

A Division of 1st Capital Mortgage LLC

2244 36th Avenue NW
Norman, OK 73072