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Process for Getting a Mortgage in Thornton , CO

Whether you're buying your first home in Thornton or your seventh on the other side of Colorado, 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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The Right Way to Start Your Thornton, CO Mortgage Process

Buying a house — it's a wish that unites us from coast to coast! And it's something 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 Thornton, CO. Our mortgage professionals can help you work through your unique situation to identify the right options for your needs.

From immersing yourself in the culture of Thornton'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 connect you to Mr. Cooper® Agent Assurance, a network of industry-leading real estate agents who know home sales inside and out. And if you're more of a DIY-er, you can browse homes on Mr. Cooper StreetSmarts. On the MLS site, you can compare Thornton homes, check your home’s value, and set up Home Alerts to find 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 ahead of ourselves. You're interested in the home loan process in Colorado. At a basic level, why do people get home loans? A home loan makes it so much easier to buy a house and can also offer tax benefits in some situations. What's more, keeping your bank account full (instead of draining it on a home purchase) can help curb financial stress. These facts apply to the home loan preparation process everywhere, not just in Thornton, CO.

The Thornton real estate scene is a busy one, and you will likely want to act fast — particularly if you found a house you can't live without. We get it! Here are a few of the most important steps in the CO mortgage loan process.

Start by thinking about how long you'll be in your new home. Are you just passing through Thornton on your way to your forever home? Or is this where you'll be raising your family? You might consider a fixed-rate loan if you plan on staying in the house for the long-term. 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 Thornton mortgage. On adjustable-rate loans, the interest rate is fixed for a set amount of time. After that deadline, the rate can go up or down at specific intervals. During the pre-qualification phase, your mortgage professional can connect you with the right loan program for your situation.

Next, complete your CO lender's loan application process. Every lender has a somewhat different process. Generally, however, you'll need to provide the following information: pay stubs, Social Security numbers, income sources, 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. The estimate includes your anticipated closing costs, monthly payment, and possible interest rate. Keep in mind that the loan estimate isn't your final Thornton mortgage. It's an approximate calculation, and you can request multiple estimates to find the best loan for you.

Work with Mr. Cooper when going through the mortgage process in Thornton and we'll review your information and provide you with a Verified Approval letter, which is a very accurate estimate of what you could buy. This letter carries weight with realtors and home sellers because it shows you are serious and can buy a home. Not every lender offers 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 the loan's annual percentage rate, additional fees, special programs, and whether the quoted rate is the lowest for that day or week.

Make Your Move with a Home Loan in Thornton, CO

The ball is in your court at this point! Compare your mortgage offers and pick the offer that's good for you. Think about the nuances of each, from the loan term to the interest rate. A Mr. Cooper mortgage professional can help you evaluate the benefits and drawbacks of each. Once you confirm your choice with the lender, they might approve your loan and send a Closing Disclosure. Closing Disclosure documents are a regular part of the home loan process, wherever you live in Colorado. The Disclosure is more formal documentation of your first estimate. There could be differences between the first estimate and the disclosure. It's fair to ask about these differences.

Closing on a House in Thornton, CO

Once your home loan is approved by the lender, it's time to close on the home you want in Thornton! 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 might have to bring in a Thornton closing attorney to be there when you sign your loan docs. 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 reached the end of the home loan process in Thornton, and it's time to get your keys. Your Thornton 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 Thornton mortgage process an easy one.

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