The Four Steps of the Loan Process:The Loan Process: Four Steps

There's a lot involved in oder to get a mortgage loan. You wouldn't be visiting our website if you could fill out a one-page application and receive an excellent loan funded the same day. 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.

Getting a loan involves four major milestones.

Step one: determine how much you can borrow

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? 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: pre-qualify for your loan

This is where the rubber meets the road and you save the most money. You will provide information on your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. Your real estate agent will use the 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 shopping for your new home, we are finding the best loan for you.

Step three: apply now! We make it easy

After you've made an offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not be much easier; you can apply from the comfort of your home right here on our site. Finally, we will order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll work with this company to ensure all the papers your lender will need are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company to set your date of closing. Since you won't have to worry with this coordination, you get to concentrate on the move, painting, carpet, and the fun parts of moving into a new house.

You've answered a few questions, given us lots of information, applied online, and Before you know it, you're moving! Price Mortgage Group LLC is a mortgage specialist; you're not — so we take care of the details. Doesn't that make sense?

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.