An Overview of the Loan Process
Make no mistake, there's quite a lot to do when you get a mortgage. You wouldn't be looking up loan information if it were possible to get a 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.
Getting a home 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? 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. 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 rubber meets the road and Price Mortgage Group LLC can really save you money. You will provide info about your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your REALTOR® should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for a new home with your real estate agent, we find the best program for you.
Once you have made the offer and it's been accepted, you should apply for the loan. Applying for a loan couldn't be much easier; you can apply from the comfort of your home right here on our site. Finally, we will order an appraisal of your new home.
Step four: your loan is funded
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 the title company to set your date of closing. Because you will not have to coordinate this process, you get to concentrate on moving logistics, paint colors, new carpet, and the details involved in moving into a new home.
You've answered some few questions, given us lots of information, applied online, and Before you know it, you're moving in! 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. Price Mortgage Group LLC answers loan process questions every day.