The Mortgage Loan Process: an Overview

Make no mistake, there's quite a lot involved 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. We do 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 steps.

Step one: Decide on your maximum loan amount

This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. 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 supply info about your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). We will review this info and provide a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed an offer and the sellers accept it, you should apply for the loan. It's very easy, and you can do it online, right here on our site. At the end of this step, we'll order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to decide on an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure all the papers your lender needs are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company on your date of closing. Because you don't have to worry with this coordination, you can concentrate on moving logistics, painting, new carpet, and the fun parts of moving into your new home.

You've answered some few questions, given us lots of information, applied , and the next thing you know, you are deciding when to move in! Price Mortgage Group LLC is in the business of loans; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Price Mortgage Group LLC at 405-513-7700. We answer questions about the loan process every day.