About the Mortgage Loan Process
There's little doubt that getting a mortgage is a complex process. You wouldn't be visiting our website if it were possible to fill out a one-page application and get an excellent loan funded in one day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a loan involves four major steps.
Step one: Decide on your maximum loan amount
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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 the rubber meets the road and Price Mortgage Group LLC can really save you money. You will provide info about your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. We will review this info then provide a pre-qualification 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 picking out the home that's right for you, we are finding the best loan program for you.
Step three: apply now! We make it easy
Once you have made the offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can do it online, right here on our site. After the offer has been accepted and you have applied for your loan, we will order the professional appraisal on the home.
Step four: funding
Your real estate agent and the seller's will work together to find an escrow/title company to handle the funding of your loan. We'll work with this company to ensure the papers your lender needs are in order, and you will probably}likely sign all these papers at this company's officeWe work with with this company on your closing date. Because you don't need to worry about these details, you get to think about the move, paint colors, new carpet, and all the details of getting your new house.
You've answered a few questions, provided lots of information, applied online, and the next thing you know, you're moving in! We do the legwork 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!