CLG Loan Process

Mortgage Loan Process

Getting a mortgage loan doesn't always have to be a complicated process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day with a simple application. We do 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 obtaining a loan.

  • Step 1: Decide how much you can afford

    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. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

  • Step 2: Pre-qualify for your loan

    This step is where Coastal Lending Group, LLC will start the actual mortgage loan origination process. You will give us information on your current job, assets, and residence history. We will obtain a copy of your credit score and report. After we've reviewed the information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it is a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new home with your agent, we find the best loan program for you.

  • Step 3: Apply for your loan

    Once the seller has accepted your offer to purchase, you should apply for the loan. Applying for a loan could not be much easier; you can apply right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.

  • Step 4: Funding

    Your real estate agent and the seller's agent will coordinate to decide on a title company to handle the funding of your loan. We'll coordinate with this company to ensure all the papers your lender will need are in order. You will probably sign everything at the title company's office. We will work with the title company, your real estate agent, the seller's agent to set your closing date. Since you won't have to worry about these details, you get to think about moving, if you're going to repaint, carpet, and the fun parts of getting a new house.