The Right Way to Start Your Marietta, GA Mortgage Process
Being a homeowner — it's a mission that we all share! And it's something that you can get help with from beginning to end. If you find yourself wondering what the home loan process is like in Marietta, then keep reading and give Mr. Cooper a call. Our mortgage professionals can help you work through your unique situation and recommend the right options for your needs.
Our team can even help out when you kick off the search for a home. They can get you started with Mr. Cooper® Agent Assurance, a large group 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. Here, you can search for a home in Marietta, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. 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 ahead of ourselves. You're interested in the home loan process in Georgia. 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. Plus, keeping some cash in your bank account (instead of spending it all on a house) can come in handy for unexpected life expenses. This information applies whether you're going through the home loan preparation process in Marietta or anywhere else. How to Apply for a Home Loan in Marietta, GA Steps to Complete the Mortgage Process in Marietta, GA How to Apply for a Mortgage in Marietta, GA
The Marietta real estate scene is a busy one, and you will likely want to act fast — especially if you've found your dream home. We've been there, too! Follow these important steps in the Georgia home loan process.
First, ask yourself: How long do you plan on living in this house? Is this a soon-to-be investment property? Or will you be planting some deep roots in Marietta? 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 Marietta mortgage. Adjustable-rate loans have a fixed rate for some time. When that period is over, the rate can adjust at specific intervals. Let your mortgage professional help you select the best loan program for your needs during prequalification.
After, follow your Marietta lender's loan application process. The process varies from lender to lender. Usually, though, you'll need to provide the following information: pay stubs, Social Security numbers, income sources, 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. 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 an approximate calculation, and you can seek out multiple estimates to find the absolute best option for you.
Go through the mortgage process in Marietta 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 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.
Seal the Deal with a Home Mortgage in Marietta, GA
The ball is in your court at this point! Compare your mortgage offers and choose the option that's right for you. Examine the details in each one, from the loan term to the APR. A Mr. Cooper mortgage professional can help you understand the drawbacks and advantages of each. Following your selection, your lender may approve your loan and send over a Closing Disclosure. It's a standard part of the home loan process, whether you live in Marietta or elsewhere. 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.
Close on a Home in Marietta, GA
After your mortgage is approved, it's time to close on your dream house in Marietta! At this point in the home loan process, your broker and closing attorney are brought into the loop to verify the closing costs. Depending on your location, you might have to bring in a Marietta 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*.
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 Marietta, and it's time to get your keys. You are a homeowner in Marietta! Do the steps seem too simple? Contact Mr. Cooper today. We strive to make the Marietta mortgage process an easy one.