Element Funding: An overview of the loan process

An overview of the loan process

Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is 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 main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.

Step one: determine how much you can borrow

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? For the first part you can get a rough idea of by using the calculator on our website. We also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we give you a good idea of what kind of terms and loan program you can expect to benefit from the most.

Step two: pre-qualify for your loan

This is where you supply information about your employment, your assets, your residence history, and so on. We get your permission to run your credit score. When we review all this information, we give you a Pre-Qualification Letter. Handle it with care -- to a home seller, it's like a suitcase full of cash! Your realty agent uses your Pre-Qual (as they may call it) to make the best offer on the home you choose, and the seller knows you're pre-qualified. It gives you buying clout! And while you're picking out the home that's right for you, we're busy finding the loan that's right for you.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on our website. When the time is right, we order an appraisal of your new home.

Step four: your loan is funded


You designate an escrow/title company to handle the funding of your loan once it's approved. You sign everything at the escrow/title company's office.


You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in! We're in the business of mortgage loans -- so we do most of the work. Doesn't that make sense?

Your opinion is greatly appreciated, we thank you for visiting this website of Element Funding a division of Primary Residential Mortgage, Inc. If you have specific questions, comments, concerns or complaints we invite you to contact us by the email shown here: ConsumerVoice@Primeres.com. Emails received during business hours, should receive a response within 48 hours, excluding weekends or holidays.

Element Funding is a BBB Accredited Mortgage Broker in Atlanta, GA


Element Funding 7000 Central Parkway NE, Suite 1175 Atlanta, Georgia 30328
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