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Get to Know the Home Loan Process in St. Matthews, KY

Whether you're buying your first home in St. Matthews or your seventh on the other side of Kentucky, 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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St. Matthews, KY: A Home Loan Process That's Unique to You

Being a homeowner — it's a dream that unites us from coast to coast! And it's something that you can get help with from start to finish. If you're curious about the process of getting a mortgage in St. Matthews, keep reading. Then call Mr. Cooper to take your next step. Our mortgage professionals will get to know your particular situation and suggest the right options for your needs.

From immersing yourself in the culture of St. Matthews's neighborhoods to closing on the home you've always wanted, we're here to ease your transition in Kentucky. can even help you out 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 know home sales inside and out. Rather hunt on your own? That's cool, too. You can start with Mr. Cooper StreetSmarts. It's the site to visit if you need to find a St. Matthews 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).

Before we get too far down the rabbit hole… You want more information about moving to Kentucky and going through the mortgage process in St. Matthews! Why might a person need a home loan in the first place? A home loan makes the home buying experience easier! Depending on the situation, it can also offer tax advantages. In addition, having a cash buffer in your bank account (instead of spending it all on a home) can help when life throws you a curveball. This information applies whether you're going through the home loan preparation process in St. Matthews or anywhere else.   How to Apply for a Home Loan in St. Matthews, KY   Steps to Complete the Mortgage Process in St. Matthews, KY How to Apply for a Mortgage in St. Matthews, KY

Houses in St. Matthews seem to move off the market just as fast as they come on, and you will likely want to act fast — particularly if you've found your dream home. We know what that's like! Follow these important steps in the Kentucky home loan process.

Begin by considering how long you'll be at your new home. Is this a soon-to-be investment property? Or will you be enjoying your golden years in this house? If you're going to be in the house for years and years, look into 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 St. Matthews. 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 go up or down at specific intervals. Let your mortgage professional help you select the best loan program for your needs during prequalification.

Next, complete your KY lender's loan application process. Every lender has a somewhat different process. Still, in general, you'll have to provide the following details: Social Security numbers, pay stubs, 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. A quick note: the loan estimate isn't your final St. Matthews mortgage. It's an estimate, and you can get multiple loan estimates to compare and select the right loan for you.

Go through the mortgage process in St. Matthews 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 questions during the home loan process! The FTC recommends home buyers to ask 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 St. Matthews, KY

The choice is up to you! Compare your mortgage offers and select the option that's right for you. Think about the nuances of each, from the loan term to the interest rate. A Mr. Cooper mortgage professional can help you understand the benefits and drawbacks 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 St. Matthews or elsewhere. The Disclosure is more formal documentation of your first estimate. There might be differences in the first estimate and the disclosure. Ask your lender to explain these to you.

Closing on a House in St. Matthews, KY

After your mortgage is approved, it's time to close on your dream house in St. Matthews! At this stage of the home loan process, your broker and closing attorney are brought in to confirm closing costs. Depending on where you live, you might have to bring in a St. Matthews 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 arrived. You finished the home loan process in St. Matthews, and it's time to celebrate. You're the proud owner of a house (or apartment or condo or townhome!) in St. Matthews. And if this all sounds too simple to be true, give Mr. Cooper a call. We're on a mission to make the mortgage process in St. Matthews super straightforward.

Mr. Cooper Reviews from Real Customers in St. Matthews, KY

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