The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
There's a lot to do when you get a mortgage loan. You wouldn't be visiting our website if you could fill out a one-page loan app and get a great loan check cut in one day. But Price Mortgage Group LLC 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
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. 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 Price Mortgage Group LLC can begin saving you money. You will provide info on your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. After we've reviewed your information, we'll provide a pre-qualificaiton letter. 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 deciding on the home that's right for you, we're busy finding the loan program that's right for you.
Once you have signed an offer and the sellers accept it, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply online right here on our site. At the end of this step, we'll order the appraisal of your new home.
Step four: your loan is funded
The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to make sure all the papers your lender needs are avaiailable, and you'll probably}likely sign everything at their officeWe do all the work to work with with the title company to set your closing date. Since you will not have to worry about these details, you can concentrate on moving logistics, paint colors, carpet, and all the details of moving into your new house.
You've answered some few questions, given us lots of information, applied , and Before you know it, you're moving! Price Mortgage Group LLC is in the business of mortgage loans; you're not — so take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Price Mortgage Group LLC at 405-513-7700. Price Mortgage Group LLC answers loan process questions every day.