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Get to Know the Mortgage Process in Riverdale, GA

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

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Riverdale, GA Mortgage and Home Loan Process

Being a homeowner — it's a mission that we all share! And it's an endeavor that you can get help with from beginning to end. If you find yourself wondering what the home loan process is like in Riverdale, then keep reading and give Mr. Cooper a call. Our trained mortgage professionals will work alongside you to identify the best loan options and terms for your circumstances.

Our crew can even help out when you start your house hunt. They can get you started with Mr. Cooper® Agent Assurance, a large group of industry-leading real estate agents who can assist with the buying and selling process. Rather hunt on your own? That's cool, too. You can start with Mr. Cooper StreetSmarts. On the MLS site, you can compare Riverdale 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 ahead of ourselves. You want more information about moving to Georgia and going through the mortgage process in Riverdale! Why do people need home loans to begin with? A home loan helps you buy a house sooner than you might otherwise be able. In some situations, it can also offer tax perks. What's more, 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 Riverdale and beyond.

Houses in Riverdale seem to move off the market just as fast as they come on, and you probably want to move fast — even more so if you found a house you can't live without. We get it! Here are a few of the most important steps in the GA mortgage loan process.

First, ask yourself: How long do you plan on living in this house? Are you just passing through Riverdale on your way to your forever home? Or will you be enjoying your golden years in this house? You might consider a fixed-rate loan if you plan on staying in the house for the long-term. Your interest rate stays the same when you have a fixed-rate home loan. But if you plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in Riverdale. 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. Let your mortgage professional help you select the best loan program for your needs during prequalification.

After, complete your GA lender's loan application process. Every lender has a somewhat different process. Generally, however, you'll have to provide the following details: income sources, pay stubs, Social Security numbers, the address of the house you'd like to buy, purchase contract, credit check authorization, the amount you want to borrow, and your banking info.

Next up? A loan estimate from your lender! You'll receive your estimated monthly payment, interest rate, and closing costs. Remember that the loan estimate isn't your final Riverdale mortgage. It's an estimate, and you can seek out multiple estimates to find the absolute best option for you.

Partner with Mr. Cooper to complete the Riverdale mortgage process and we'll provide you with a Verified Approval letter, which is an extremely accurate estimate. 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.

Just ask! It's normal to have questions about 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 Riverdale, GA

The choice is up to you! Compare your mortgage offers and pick 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 help you understand 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. Feel free to ask questions if you see that there are differences between the first estimate and disclosure.

Closing on a House in Riverdale, GA

Once your home loan is approved, it's time to close on the home you want in Riverdale! 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 your location, you might have to bring in a Riverdale 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*.

Once you've "signed on the dotted line," as they say, you're in the home stretch — literally! You've reached the end of the home loan process in Riverdale, and it's time to celebrate. You're the proud owner of a house (or apartment or condo or townhome!) in Riverdale. Does that all sound too easy? Call Mr. Cooper. We're on a mission to make the mortgage process in Riverdale super straightforward.

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