How the Loan Process Works

In the market for a mortgage? We'd be thrilled to answer your questions about our many mortgage solutions! Call us at (770) 604-6021. Ready to get started? Apply Online Now.

There's a lot involved in order to get a mortgage. You wouldn't be visiting our website if you could fill out a simple loan app and receive the best loan check cut in one day. But Element Funding does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major steps.

Step one: determine how much you can borrow

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: complete a pre-qualification

This is where Element Funding can begin saving you money. You will give us info about your current job, assets, and your residence history. You'll provide your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). After we've reviewed the provided information, we'll give you a pre-qualification letter. Your REALTOR® should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for the home that's right for you, we're busy finding the loan that's just right for you.

Step three: apply for your loan

After you've made the 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. Finally, we will order an appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to ensure all the papers your lender requires are in order, and you'll probably}likely sign everything at their officeWe coordinate with this company to set your date to close. Since you will not have to coordinate this process, you can think about moving, paint colors, new carpet, and the fun parts of getting your new house.

You've answered a few questions, provided detailed information, applied , and the next thing you know, you're moving in! We take care of all 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 Element Funding at (770) 604-6021. Element Funding answers loan process questions every day.