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

There's quite a lot to do when you get a mortgage. You would not be looking up loan information if you could get a loan in one 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 steps.

Step one: determine how much you can borrow

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? 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: pre-qualify for your loan

This is where Price Mortgage Group LLC will begin saving you money. You will give us details on your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we have gone over this info we provide a letter of pre-qualification. Handle it with care — it can be a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out your new home, we're busy researching the loan that's right for you.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, you should complete the loan application. Applying for a loan could not get much easier; you can apply right here on our site. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" and closing. We'll work with this company to make sure all the papers your lender needs are in order, and you will probably}likely sign everything at this company's officeWe work with with the title company on your closing date. Since you won't have to worry with this coordination, you can concentrate on moving, painting, carpet, and all the details of getting your new home.

You've answered some few questions, given us lots of information, applied online, and before you know it, you are moving in! Price Mortgage Group LLC is in the business of loans; you're not — so we do the work. 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.