An Overview of the Mortgage Loan Process
No doubt, quite a lot involved when you get a mortgage. You would not be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. But Price Mortgage Group LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage 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? 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. 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 the process really begins and you save the most money. You will supply info about your current job, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission. When we review all this info we provide a pre-qualification letter. Handle it with care — it can be a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new house with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made the offer and it's been accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. Finally, we will order an appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with this company on your date of closing. Since you won't need to worry with this coordination, you get to concentrate on moving, paint colors, new carpet, and the details involved in moving into your new house.
You've answered some few questions, provided detailed information, applied , and Before you know it, you're moving! Price Mortgage Group LLC is a mortgage specialist; 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. We answer questions about the loan process every day.