About the Loan Process
Shopping for a mortgage loan? We will be glad to assist you! Give us a call today at (770) 604-6003. Ready to begin? Apply Online Now
No doubt, a lot involved in order to get a mortgage loan. You wouldn't be visiting our site if it were possible to complete a one-page loan application and receive a great loan check cut the same day. But Element Funding does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major steps.
Step one: determine how much you can borrow
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 amount 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 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 Element Funding can start saving you money. You will provide details about your current job, your assets, and residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). After we've reviewed your information, we'll give you a pre-qualification letter. Handle it with care — it is a great tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we are looking for the best loan program for you.
Step three: apply now! We make it easy
After you've signed an offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. 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
Your real estate agent and the sellers will work together to decide on a title company to take care of the funding of your loan. We'll work with this company to make sure all the papers your lender will require are available, and you'll probably sign everything at this company's office. We will work with this company on your date of closing. Because you won't need to coordinate this process, you get to think about the move, if you're going to repaint, new carpet, and the fun parts of getting a new home.
After you have answered a few questions, given us lots of information, and applied online, you'll be ready to move sooner than you think! We do the legwork so you can spend your time finding your new home.
Have questions about the loan process? Call Element Funding at (770) 604-6003. It's our job to answer lending questions, so we're happy to help!