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Get to Know the Home Loan Process in Chandler, AZ

Whether you're buying your first home in Chandler or your seventh on the other side of Arizona, you have a friend in the home loan process. Mr. Cooper is the nation's fourth-largest mortgage servicer and can help you every step of the way.

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Chandler, AZ: A Home Loan Process That's Unique to You

Buying a house — it's an aspiration that unifies all kinds of people! And it's a process that you can get assistance with along the way. Keep reading and give Mr. Cooper a call if you're curious about the home loan process in Chandler, AZ. Our mortgage professionals can help you work through your unique situation to identify the best options for you at every turn.

From your initial Chandler loan search to prequalification to closing, we're here to help you make your move in Arizona! can even help you out as you begin your hunt for a new house. They can get you started with Mr. Cooper® Agent Assurance, a large group of industry-respected real estate agents who assist with home buying and selling.. Rather hunt on your own? That's cool, too. You can start with Mr. Cooper StreetSmarts. Here, you can search for a home in Chandler, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. And get this — if you buy a home with a Mr. Cooper mortgage, we'll pay for your move (up to 50 miles).

But we're getting too deep into the weeds. You want more information about moving to Arizona and going through the mortgage process in Chandler! At a basic level, why do people get home loans? A home loan makes the home buying experience easier! Depending on the situation, it can also offer tax advantages. What's more, keeping your bank account full (instead of draining it on a home purchase) can help curb financial stress. This information applies whether you're going through the home loan preparation process in Chandler or anywhere else.   How to Apply for a Home Loan in Chandler, AZ   Steps to Complete the Mortgage Process in Chandler, AZ How to Apply for a Mortgage in Chandler, AZ

Houses in Chandler seem to move off the market just as fast as they come on, and you probably want to move fast — even more so if you're on a tight timeline. We've been there, too! Here are a few of the most important steps in the AZ mortgage loan process.

Begin by considering how long you'll be at your new home. Are you just passing through Chandler on your way to your forever home? Or is this where you'll be raising your family? If you plan on sticking around for a long time, you might consider a fixed-rate loan. The interest rate on a fixed-rate home loan doesn't change (unless you refinance). But if you're planning on being in and out fast, then you might want to go the adjustable-rate route for your Chandler mortgage. Adjustable-rate loans have a fixed rate for some time. After that deadline, the rate can go up or down at specific intervals. Let your mortgage professional help you select the best loan program for your needs during prequalification.

Then, complete your AZ lender's loan application process. The process can vary a bit between lenders. Generally, however, you'll need to provide the following information: income sources, pay stubs, Social Security numbers, the address of the house you'd like to buy, purchase contract, credit check authorization, banking details, and the amount of money you're looking to borrow.

Your lender will then give you a loan estimate. You'll be presented with a potential interest rate, monthly payment, and estimated closing costs for the loan. A quick note: your loan estimate doesn't mean you've been approved or denied for a mortgage in Chandler. It's an approximate calculation, and you can seek out multiple estimates to find the absolute best option for you.

Work with Mr. Cooper when going through the mortgage process in Chandler and we'll look at your situation and give you a Verified Approval letter — a super-accurate estimate of what you can afford to borrow! This letter shows home sellers and realtors you are a serious buyer. Not all lenders offer Verified Approval letters as Mr. Cooper does.

Ask questions during the home loan process! The FTC advises that you should also ask each lender about any special programs, additional fees, the loan's annual percentage rate (APR), and whether the quoted rate is the lowest for that week or day.

Seal the Deal with a Home Mortgage in Chandler, AZ

The ball is in your court at this point! Compare your mortgage offers and pick the offer that's good for you. Consider the details of each, from the interest rate to the loan term. A Mr. Cooper mortgage professional can help you evaluate the benefits and drawbacks of each. Following your selection, your lender may approve your loan and send over a Closing Disclosure. It's a standard part of the home loan process, whether you live in Chandler or elsewhere. Consider it a more formal version of your previous estimate. Feel free to ask questions if you see that there are differences between the first estimate and disclosure.

Closing on a House in Chandler, AZ

Once your home loan is approved, it's go-time for buying your Chandler house! At this point in the home loan process, your closing attorney and broker come into the picture to sign off on the closing costs. Depending on your state, you may also be required to work with a closing attorney in Chandler who will schedule a time with you to sign your loan documents. You never have to worry about your closing date flying by and leaving you in a pinch. We guarantee we’ll close your loan on time, or your first month’s mortgage payment (principal + interest) is on us*.

Once you've "signed on the dotted line," as they say, you're in the home stretch — literally! You've completed the mortgage process in Chandler, and it's time to celebrate. You are a homeowner in Chandler! Do the steps seem too simple? Contact Mr. Cooper today. We strive to make the Chandler mortgage process an easy one.

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