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Process for Getting a Mortgage in Garden City , KS

Whether you're buying your first home in Garden City or your seventh on the other side of Kansas, you have a friend in the home loan process. Mr. Cooper is the nation's fourth-largest mortgage servicer and can help you every step of the way.

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Garden City, KS Mortgage and Home Loan Process

Being a homeowner — it's an ambition that unifies all kinds of people! And it's an endeavor that you can get help with from start to finish. If you find yourself wondering what the home loan process is like in Garden City, then keep reading and give Mr. Cooper a call. Our mortgage professionals will get to know your particular situation to identify the right options for your needs.

We're here to help make your Kansas move an easy one, starting with the first time you search for a Garden City home loan. can even help out when you kick off the search for a home. They can get you connected to Mr. Cooper® Agent Assurance, an organization of well-known, licensed real estate agents who assist with home buying and selling.. And if you're more of a DIY-er, you can browse homes on Mr. Cooper StreetSmarts. Here, you can search for a home in Garden City, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. And get this — if you buy a home 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 Kansas. Why do people need home loans to begin with? A home loan makes it so much easier to buy a house and can also offer tax benefits in some situations. Plus, 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 Garden City, KS.

The Garden City home market is a competitive one, and you probably want to move fast — especially if you're on a tight timeline. We get it! Here is a summary of the essential steps when applying for a mortgage in Garden City

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 will you be planting some deep roots in Garden City? If you plan on sticking around for a long time, you might consider a fixed-rate loan. The interest rate on a fixed-rate home loan doesn't change (unless you refinance). But if you plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in Garden City. 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. During the pre-qualification phase, your mortgage professional can connect you with the right loan program for your situation.

Then, submit your Garden City lender's home loan application. The process can vary a bit between lenders. Usually, though, you'll need to give the following info: 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.

Your lender will then give you a loan estimate. The estimate includes your anticipated closing costs, monthly payment, and possible interest rate. Keep in mind that a loan estimate isn't the same thing as a mortgage. It's an estimate, and you can request multiple estimates to find the best loan for you.

Work with Mr. Cooper when going through the mortgage process in Garden City and we'll review your information and provide you with a Verified Approval letter, which is a very accurate estimate of what you could buy. This letter shows home sellers and realtors you are a serious buyer. Not all lenders offer 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.

Make Your Move with a Home Loan in Garden City, KS

The choice is up to you! Analyze your mortgage offers and pick the offer that's good 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. It's a standard part of the home loan process, whether you live in Garden City or elsewhere. A Closing Disclosure is a more formal write-up of your initial estimate. There might be differences in the first estimate and the disclosure. Ask your lender to explain these to you.

Close on a Home in Garden City, KS

Once your home loan is approved, it's time to close on the home you want in Garden City! 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 may also be required to work with a closing attorney in Garden City who will schedule a time with you to sign your loan documents. 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 reached the end of the home loan process in Garden City, and it's time to get your keys. You're the proud owner of a house (or apartment or condo or townhome!) in Garden City. Does that all sound too easy? Call Mr. Cooper. We do our best to make the home loan process in Garden City a super easy one.

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