How the Loan Process Works
Make no mistake, there's quite a lot to do in oder to get a mortgage. You wouldn't be looking up loan information if it were possible to get a loan in one 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.
There are four important steps involved in getting a loan.
Step one: Decide how much you can afford
A couple of factors determine this amount. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. 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: pre-qualify for your loan
This is where the rubber meets the road and Price Mortgage Group LLC can really save you money. You will give us details about your employment, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We pull your credit score and report. We'll go over this info and give you a pre-qualification letter. Handle it with care — it can be a great tool for buying your new home! Your real estate agent will likely 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 looking for a new house with your real estate agent, we find the best program for you.
After you've signed the offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. At the end of this step, we will order the appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to designate a title company to handle the funding of your loan. We'll work with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign everything at this company's officeWe work with with this company on your closing date. Since you will not have to coordinate this process, you can concentrate on moving, painting, carpet, and the fun parts of getting your new home.
You've answered some few questions, provided detailed information, applied online, and Before you know it, you're moving in! Price Mortgage Group LLC is a mortgage specialist; you're not — so we do the work. 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.