How the Loan Process Works
Are you looking for a mortgage? We will be glad to assist you! Give us a call at (405) 822-1957. Want to get started? Apply Here
There's no doubt that getting a mortgage is a complex process. You wouldn't be here on our site if you could fill out a simple application and receive the best loan funded the same 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 main steps involved in getting a loan.
Step one: Decide on your maximum loan amount
This is a function of a couple things. 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 amount 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 supply details about your employment, assets, and your residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. After we have gone over this info we provide a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for your new home, we're busy finding the loan that's right for you.
Step three: apply now! We make it easy
Once you have made the offer and it's been accepted, it's time to complete the loan application. Applying for your loan could not get much easier; you can apply 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: your loan is funded
The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to make sure all the papers your lender will require are available, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company on your date of closing. Because you don't need to coordinate this process, you get to think about moving, paint colors, carpet, and all the details of moving into your new house.
You've answered a few questions, given us lots of information, applied , and the next thing you know, you're moving in! We do the legwork so you can spend your time finding your new home.
Have questions about the loan process? Call Executive Lending Group at (405) 822-1957. We answer questions about the loan process every day.