How the Loan Process Works
There can be no doubt ; getting a mortgage is a complex process. You wouldn't be visiting our website if you could fill out a simple loan app and receive the best loan funded in one day. 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 steps.
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? You can get a good idea of your preferred payment abount using the calculators on our website. 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: pre-qualify for your loan
This is where the process really begins and you save the most money. You will give us info about your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. We'll go over this information then will provide a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! Your agent will use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new home with your REALTOR™, we find the best program for you.
After you've signed the offer and the sellers accept it, you should apply for the loan. Applying for your loan couldn't get much easier; you can apply online right here on our site. Finally, we will order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will work together to decide on a title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date of closing. Because you will not need to coordinate this process, you can think about the move, painting, carpet, and the details involved in getting your new house.
You've answered some few questions, given us lots of information, applied online, and Before you know it, you'll be moving! Price Mortgage Group LLC is in the business of mortgage 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.