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Get to Know the Mortgage Process in Sunrise, FL

Are you a first-time Florida homebuyer? Or, maybe you're new to Sunrise and looking to buy a home in the area. Either way, you might have questions about the home loan process. Get answers from Mr. Cooper.

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The Right Way to Start Your Sunrise, FL Mortgage Process

Owning a home — it's a wish that we all share! And it's an endeavor that you can get help with from start to finish. Keep reading and give Mr. Cooper a call if you're curious about the home loan process in Sunrise, FL. Our trained mortgage professionals will work alongside you and recommend the right options for your needs.

We're here to help make your Florida move an easy one, starting with the first time you search for a Sunrise home loan. can even lend a helping hand as you start your house hunt. They can get you connected to Mr. Cooper® Agent Assurance, an organization of well-known, licensed 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. It's the site to visit if you need to find a Sunrise home, monitor neighborhood trends, and set up Home Alerts so you don’t miss a thing. 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 want more information about moving to Florida and going through the mortgage process in Sunrise! 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. 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 Sunrise, FL.

The Sunrise home market is a competitive one, and you'll want to take action quickly — especially if you've found your dream home. We get it! Follow these important steps in the Florida home loan process.

Start by thinking about how long you'll be in your new home. Is this a soon-to-be investment property? 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. Your interest rate doesn't change with a fixed-rate home loan. But if you plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in Sunrise. Your interest rate is only fixed for a certain amount of time with an adjustable-rate loan. When that period is over, 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 Sunrise lender's loan application process. The process varies from lender to lender. Generally, however, you'll have to provide the following details: income sources, pay stubs, Social Security numbers, purchase contract, credit check authorization, the address of the property you'd like to buy, banking details, and the amount of money you're looking to borrow.

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 your loan estimate doesn't mean you've been approved or denied for a mortgage in Sunrise. 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 Sunrise 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 shows home sellers and realtors you are a serious buyer. 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 additional fees, the loan's annual percentage rate, any special programs, and whether the quoted rate is the lowest for the week or day.

Make Your Move with a Home Loan in Sunrise, 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 even help you weigh the pros and cons of each. Following your selection, your lender may approve your loan and send over a Closing Disclosure. Closing Disclosure documents are a regular part of the home loan process, wherever you live in Florida. A Closing Disclosure is a more formal write-up of your initial estimate. Feel free to ask questions if you see that there are differences between the first estimate and disclosure.

Closing on a House in Sunrise, FL

After your mortgage is approved, it's time to close on the home you want in Sunrise! At this stage of the home loan process, your broker and closing attorney are brought in to confirm closing costs. Depending on where you live, you may also be required to work with a closing attorney in Sunrise 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*.

It's practically time to move in and unpack your boxes once you sign on the dotted line! You've completed the mortgage process in Sunrise, and it's time to roll out the welcome mat. You're the proud owner of a house (or apartment or condo or townhome!) in Sunrise. Does that all sound too easy? Call Mr. Cooper. We strive to make the Sunrise mortgage process an easy one.

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