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Get to Know the Home Loan Process in Bartow, FL

Is there any way to make the Bartow mortgage process easier? You bet! Partner with Mr. Cooper and learn more about the steps to getting a home loan in Bartow, FL.

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Bartow, FL: A Home Loan Process That's Unique to You

Living in a house that's yours, all yours — it's a mission that unifies all kinds of people! And it's a process that you can get help with from beginning to end. Keep reading and give Mr. Cooper a call if you're curious about the home loan process in Bartow, FL. Our trained mortgage professionals will work alongside you and suggest the best options for you at every turn.

Our crew can even help you out as you begin your hunt for a new house. 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'd rather search at your own pace, you can get started on the Mr. Cooper StreetSmarts site. On the MLS site, you can compare Bartow homes, check your home’s value, and set up Home Alerts to find 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).

But we're getting too deep into the weeds. You're interested in the home loan process in Florida. Why might a person need a home loan in the first place? A home loan helps you buy a house sooner than you might otherwise be able. In some situations, it can also offer tax perks. 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 Bartow and beyond.

The Bartow home market is a competitive one, and you will likely want to act fast — particularly if you've found your dream home. We know what that's like! Here is a summary of the essential steps when applying for a mortgage in Bartow

First, ask yourself: How long do you plan on living in this house? Are you just passing through Bartow on your way to your forever home? Or will you be enjoying your golden years in this house? 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 Bartow 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. A mortgage professional can help you choose the right loan program during the prequalification phase.

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

From there, your lender will provide you with a loan estimate. The estimate includes your anticipated closing costs, monthly payment, and possible interest rate. Remember that a loan estimate isn't the same thing as a mortgage. It's a bit of preview, and you can request multiple estimates to find the best loan for you.

Work with Mr. Cooper when going through the mortgage process in Bartow 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 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 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.

Make Your Move with a Home Loan in Bartow, FL

The choice is up to you! Analyze your mortgage offers and select 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 understand the pros and cons of each. Once you confirm your choice with the lender, they might approve your loan and send a Closing Disclosure. It's a standard part of the home loan process, whether you live in Bartow or elsewhere. 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 Bartow, FL

After your mortgage is approved, it's time to close on your dream house in Bartow! During this step of the mortgage process, your broker and closing attorney come into the picture to sign off on the closing costs. Depending on where you live, you could be required to work with a Bartow closing attorney. They'll book 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 completed the mortgage process in Bartow, and it's time to roll out the welcome mat. You are a homeowner in Bartow! And if this all sounds too simple to be true, give Mr. Cooper a call. We're on a mission to make the mortgage process in Bartow super straightforward.

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Buying a house in Bartow? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers money at every stage of their journey, from real estate commissions to closing costs.