The Right Way to Start Your Rockmart, GA Mortgage Process
Living in a house that's yours, all yours — it's an ambition that unites us from coast to coast! And it's a process that you can get assistance with along the way. If you're curious about the process of getting a mortgage in Rockmart, keep reading. Then call Mr. Cooper to take your next step. Our mortgage professionals will get to know your particular situation to identify the right options for your needs.
Our crew can even help you out as you begin your hunt for a new house. They can get you started with Mr. Cooper® Agent Assurance, a large group 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 Rockmart home, monitor neighborhood trends, and set up Home Alerts so you don’t miss a thing. And get this — if you buy a home with a Mr. Cooper mortgage, we'll pay for your move (up to 50 miles).
Before we get too far down the rabbit hole… You want more information about moving to Georgia and going through the mortgage process in Rockmart! 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. 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 Rockmart and beyond.
The Rockmart real estate scene is a busy one, and you'll want to take action quickly — especially if you're on a tight timeline. We understand! Follow these important steps in the Georgia 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 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 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 Rockmart. 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 adjust at specific intervals. Let your mortgage professional help you select the best loan program for your needs during prequalification.
Then, follow your Rockmart 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, 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.
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 the loan estimate isn't your final Rockmart 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 Rockmart with Mr. Cooper and we'll provide you with a Verified Approval letter, which is an extremely accurate estimate. 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 urges home shoppers to inquire 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 Rockmart, GA
You're in control now! 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 Rockmart or elsewhere. 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 Rockmart, GA
After your mortgage is approved, it's time to close on the home you want in Rockmart! 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 may also be required to work with a closing attorney in Rockmart who will schedule a time with you to sign your loan documents. Even if paperwork takes longer than expected, you don't have to stress over your closing date being delayed. 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 arrived. You finished the home loan process in Rockmart, and it's time to roll out the welcome mat. Your Rockmart house is now your home! And if this all sounds too simple to be true, give Mr. Cooper a call. We strive to make the Rockmart mortgage process an easy one.