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Get to Know the Mortgage Process in Shelton, CT

Whether you're buying your first home in Shelton or your seventh on the other side of Connecticut, 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 Shelton, CT Mortgage Process

Owning a home — it's an aspiration that unites us from coast to coast! And it's a process that you can get help with from start to finish. If you're curious about the process of getting a mortgage in Shelton, keep reading. Then call Mr. Cooper to take your next step. Our trained mortgage professionals will work alongside you and recommend the best loan options and terms for your circumstances.

From your initial Shelton loan search to prequalification to closing, we're here to help you make your move in Connecticut! can even lend a helping hand as you kick off the search for a home. They can connect you to Mr. Cooper® Agent Assurance, a network of well-known, licensed real estate agents who can assist with the buying and selling process. And if you're more of a DIY-er, you can browse homes on Mr. Cooper StreetSmarts. Here, you can search for a home in Shelton, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. But the savings don't stop there. Purchase a house with a Mr. Cooper mortgage and we'll pay for your actual move (up to 50 miles).

Before we get too far down the rabbit hole… You're here to learn more about moving in Connecticut and the overall mortgage process. Why might a person need a home loan in the first place? A home loan makes it so much easier to buy a house and can also offer tax benefits in some situations. Plus, keeping your bank account full (instead of draining it on a home purchase) can help curb financial stress. Considering these facts is part of the home loan preparation process in Shelton and beyond.

The Shelton real estate scene is a busy one, and you'll want to take action quickly — particularly if you found a house you can't live without. We understand! Follow these important steps in the Connecticut home loan process.

Start by thinking about how long you'll be in your new home. Do you plan on living in it for a few years and then renting it out? Or will you be planting some deep roots in Shelton? 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 Shelton mortgage. Adjustable-rate loans have a fixed rate for some time. When that period is over, 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.

Next, follow your Shelton lender's loan application process. The process varies from lender to lender. Usually, though, you'll have to provide the following details: Social Security numbers, pay stubs, 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.

From there, your lender will provide you with 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 Shelton. It's a bit of preview, and you can seek out multiple estimates to find the absolute best option for you.

Go through the mortgage process in Shelton with Mr. Cooper 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 means a lot to home sellers and realtors because it shows you can afford a home. You're not just browsing! Not every lender offers Verified Approval letters as Mr. Cooper does.

Ask questions during the home loan process! The FTC urges home shoppers to inquire 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 Shelton, CT

The choice is up to you! Review your mortgage offers and choose the option that's right for you. Consider the details of each, from the interest rate to the loan term. A Mr. Cooper mortgage professional can even help you weigh 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 Connecticut. Consider it a more formal version of your previous estimate. There might be differences in the first estimate and the disclosure. Ask your lender to explain these to you.

At Your Mortgage Closing in Shelton, CT

After your mortgage is approved, it's time to close on the home you want in Shelton! During this step of the mortgage process, your broker and closing attorney are brought in to confirm closing costs. Depending on your state, you could be required to work with a Shelton closing attorney. They'll book time with you to sign your loan documents. Don't worry about missing your closing date, either. We guarantee we’ll close your loan on time, or your first month’s mortgage payment (principal + interest) is on us*.

It's practically time to move in and unpack your boxes once you sign on the dotted line! You've arrived. You finished the home loan process in Shelton, and it's time to celebrate. You are a homeowner in Shelton! Does that all sound too easy? Call Mr. Cooper. We're on a mission to make the mortgage process in Shelton super straightforward.

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