About the Mortgage Loan Process
There's no question ; getting a mortgage loan is a complicated process. You would not be looking up loan information if you could get a loan in a single day with a simple application. But Price Mortgage Group LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major steps.
Step one: Decide how much you can afford
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? Use the calculators on our website to determine your monthly payment amount. 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 two: complete a pre-qualification
This is where Price Mortgage Group LLC will begin to save you money. You will supply details on your employment, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. We'll go over all this info then will give you a letter of pre-qualification. Your real estate agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we are looking for the best loan for you.
Once you have made the offer and the sellers accept it, you should apply for the loan. Applying for your loan could not get much easier; you can apply online right here on our site. Finally, we will order the appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure the papers your lender requires are in order, and you will probably}likely sign all these papers at their officeWe do all the work to work with with the title company on your date of closing. Because you will not have to worry about these details, you can concentrate on the move, paint colors, new carpet, and the details involved in moving into a new home.
You've answered a few questions, provided lots of information, applied online, and before you know it, you are moving in! We take care of 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 Price Mortgage Group LLC at 405-513-7700. It's our job to answer lending questions, so we're happy to help!