How the Mortgage Loan Process Works

There is little doubt that getting a mortgage loan is a complex process. You wouldn't be here on our site if you could complete a one-page loan app and receive a great loan check cut in one day. 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.

There are four important steps involved in obtaining a loan.

Step one: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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. 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: complete a pre-qualification

This is where Price Mortgage Group LLC can start saving you money. You will give us details about your current job, 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, of course). After we've reviewed your information, we'll provide a pre-qualificaiton letter. Handle it with care — it is 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 your new house with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, you should complete the loan application. Applying for a loan couldn't get much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to make sure all the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your date of closing. Because you will not have to coordinate this process, you can concentrate on moving, painting, new carpet, and the details involved in moving into your new house.

You've answered a few questions, given us detailed information, applied online, and before you know it, you are moving in! We do the legwork so you can focus on finding your new home.

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!