About the Mortgage Loan Process

There's no question that getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if you could get a mortgage loan in a single day with a simple application. But Price Mortgage Group LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a mortgage loan.

Step one: Decide on your maximum loan amount

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? 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: complete a pre-qualification

This step is where Price Mortgage Group LLC can begin saving you money. You will provide information about your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed the provided information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it is a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're picking out the home that's right for you, we're busy finding the loan that's right for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can apply online, 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

Your real estate agent and the seller's will coordinate to designate an escrow/title company to handle the funding of your loan. We'll work with this company to ensure all the papers your lender requires are in order, and you'll probably}likely sign everything at their officeWe work with with this company on your date to close. Because you won't need to worry with this coordination, you get to think about the move, if you're going to repaint, carpet, and the details involved in moving into your new house.

You've answered some few questions, given us detailed information, applied online, and before you know it, you're moving in! We take care of the loan details so you can focus on finding the new home that's right for you.

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!