How the Loan Process Works
No doubt, a lot involved when you get a mortgage. You wouldn't be visiting our website if it were possible to complete a simple application and get 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 mortgage loan involves four major milestones.
Step one: Decide how much you can afford
This is a function of a couple things. 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 Price Mortgage Group LLC can begin to save you money. You will provide information on your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. We'll go over this info and will provide a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for a new house with your agent, we find the best program for you.
Step three: apply now! We make it easy
After you've made the offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. When the time is right, we'll order an appraisal of your new home.
Step four: funding
The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure the papers your lender will need are avaiailable, and you'll probably}likely sign everything at this company's officeWe work with with this company on your date to close. Since you will not have to coordinate this process, you get to concentrate on the move, if you're going to repaint, new carpet, and the details involved in getting a new home.
You've answered some few questions, provided detailed information, applied online, and Before you know it, you're moving! Price Mortgage Group LLC is in the business of loans; you're not — so we do the work. Doesn't that sound nice?
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!