Lakewood, CO: A Home Loan Process That's Unique to You
Being a homeowner — it's a goal that unites us from coast to coast! 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 Lakewood, CO. Our trained mortgage professionals will work alongside you and recommend the best options for you at every turn.
From immersing yourself in the culture of Lakewood's neighborhoods to closing on the home you've always wanted, we're here to ease your transition in Colorado. can even help you out as you kick off the search for a home. They can get you started with Mr. Cooper® Agent Assurance, a large group of industry-leading real estate agents who assist with home buying and selling.. And if you'd rather search at your own pace, you can get started on the Mr. Cooper StreetSmarts site. It's the site to visit if you need to find a Lakewood home, monitor neighborhood trends, and set up Home Alerts so you don’t miss a thing. And guess what? If you choose to buy a house with a Mr. Cooper mortgage, we'll pay for your move (up to 50 miles).
Before we get too far down the rabbit hole… You're here to learn more about moving in Colorado and the overall mortgage process. Why might a person need a home loan in the first place? A home loan makes the home buying experience easier! Depending on the situation, it can also offer tax advantages. Plus, keeping some cash in your bank account (instead of spending it all on a house) can come in handy for unexpected life expenses. This information applies whether you're going through the home loan preparation process in Lakewood or anywhere else. How to Apply for a Home Loan in Lakewood, CO Steps to Complete the Mortgage Process in Lakewood, CO How to Apply for a Mortgage in Lakewood, CO
The Lakewood home market is a competitive one, and you probably want to move fast — even more so if you've found your dream home. We've been there, too! Follow these important steps in the Colorado home loan process.
Begin by considering how long you'll be at your new home. Is this a soon-to-be investment property? Or is this where you'll be raising your family? If you're going to be in the house for years and years, look into a fixed-rate loan. The interest rate on a fixed-rate home loan doesn't change (unless you refinance). But if you plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in Lakewood. Adjustable-rate loans have a fixed rate for some time. After that deadline, the rate can adjust at specific intervals. A mortgage professional can help you choose the right loan program during the prequalification phase.
Next, submit your Lakewood lender's home loan application. The process can vary a bit between lenders. Generally, however, you'll need to provide the following information: pay stubs, Social Security numbers, income sources, credit check authorization, the address of the home you'd like to buy, purchase contract, the amount you want to borrow, and your banking info.
Next up? A loan estimate from your lender! You'll be presented with a potential interest rate, monthly payment, and estimated closing costs for the loan. Remember that the loan estimate isn't your final Lakewood mortgage. It's an estimate, and you can seek out multiple estimates to find the absolute best option for you.
Partner with Mr. Cooper to complete the Lakewood mortgage process and we'll review your information and provide you with a Verified Approval letter, which is a very accurate estimate of what you could afford. This letter carries weight with realtors and home sellers because it shows you are serious and can afford a home. Not all lenders offer Verified Approval letters as Mr. Cooper does.
Ask your lender! The more questions you ask 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 Lakewood, CO
The choice is up to you! Analyze your mortgage offers and choose the offer that's good for you. Examine the details in each one, from the loan term to the APR. A Mr. Cooper mortgage professional can help you understand the benefits and drawbacks of each. Once you confirm your choice with the lender, they might approve your loan and send a Closing Disclosure. The Closing Disclosure is a normal part of the mortgage process, no matter where you live in Colorado. A Closing Disclosure is a more formal write-up of your initial estimate. There might be differences in the first estimate and the disclosure. Ask your lender to explain these to you.
Close on a Home in Lakewood, CO
Once your home loan is approved by the lender, it's go-time for buying your Lakewood house! During this step of the mortgage process, your broker and closing attorney are brought into the loop to verify the closing costs. Depending on your state, you may also be required to work with a closing attorney in Lakewood 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*.
You're in the home stretch once you've signed the documents! You've arrived. You finished the home loan process in Lakewood, and it's time to roll out the welcome mat. Your Lakewood house is now your home! And if this all sounds too simple to be true, give Mr. Cooper a call. We strive to make the Lakewood mortgage process an easy one.