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Get to Know the Mortgage Process in Lilburn, GA

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

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Lilburn, GA Mortgage and Home Loan Process

Buying a house — it's a wish that unites us from coast to coast! And it's an endeavor that you can get assistance with along the way. If you find yourself wondering what the home loan process is like in Lilburn, then keep reading and give Mr. Cooper a call. Our mortgage professionals can help you work through your unique situation and suggest the right options for your needs.

We're here to help make your Georgia move an easy one, starting with the first time you search for a Lilburn home loan. can even lend a helping hand as you kick off the search for a home. They can get you connected to Mr. Cooper® Agent Assurance, an organization of industry-leading 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. It's the site to visit if you need to find a Lilburn 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).

But we're getting too deep into the weeds. You're here to learn more about moving in Georgia and the overall mortgage process. Why do people need home loans to begin with? A home loan makes the home buying experience easier! Depending on the situation, it can also offer tax advantages. In addition, keeping some cash in your bank account (instead of spending it all on a house) can come in handy for unexpected life expenses. Considering these facts is part of the home loan preparation process in Lilburn and beyond.

Houses in Lilburn seem to move off the market just as fast as they come on, and you'll want to take action quickly — particularly if you're on a tight timeline. We know what that's like! Follow these important steps in the Georgia home loan process.

Begin by considering how long you'll be at your new home. Do you plan on living in it for a few years and then renting it out? Or is this where you'll be raising your family? If you plan on sticking around for a long time, you might consider a fixed-rate loan. Your interest rate doesn't change with a fixed-rate home loan. But if you're planning on being in and out fast, then you might want to go the adjustable-rate route for your Lilburn mortgage. On adjustable-rate loans, the interest rate is fixed for a set amount of 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, complete your GA lender's loan application process. The process varies from lender to lender. Usually, though, 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 information, and the amount you'd like to borrow.

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. Keep in mind that the loan estimate isn't your final Lilburn mortgage. It's an approximate calculation, and you can request multiple estimates to find the best loan for you.

Go through the mortgage process in Lilburn with Mr. Cooper and we'll provide you with a Verified Approval letter, which is an extremely accurate estimate. This letter shows home sellers and realtors you are a serious buyer. Not all lenders offer Verified Approval letters as Mr. Cooper does.

Ask questions during the home loan process! 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.

Seal the Deal with a Home Mortgage in Lilburn, GA

The ball is in your court at this point! Compare your mortgage offers and choose the one that's best 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 drawbacks and advantages 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 Georgia. Consider it a more formal version of your previous 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 Lilburn, GA

Once your home loan is approved, it's time to close on your dream house in Lilburn! At this stage of the home loan process, your closing attorney and broker are brought into the loop to verify the closing costs. Depending on where you live, you might have to bring in a Lilburn closing attorney to be there when you sign your loan docs. 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*.

You're in the home stretch once you've signed the documents! You've completed the mortgage process in Lilburn, and it's time to celebrate. You're the proud owner of a house (or apartment or condo or townhome!) in Lilburn. And if this all sounds too simple to be true, give Mr. Cooper a call. We do our best to make the home loan process in Lilburn a super easy one.

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