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Process for Getting a Mortgage in Easton , MD

Are you a first-time Maryland homebuyer? Or, maybe you're new to Easton and looking to buy a home in the area. Either way, you might have questions about the home loan process. Get answers from Mr. Cooper.

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Easton, MD: A Home Loan Process That's Unique to You

Buying a house — it's a mission that we all share! And it's an endeavor that you can get assistance with along the way. If you find yourself wondering what the home loan process is like in Easton, then keep reading and give Mr. Cooper a call. Our trained mortgage professionals will work alongside you and recommend the best loan options and terms for your circumstances.

From your initial Easton loan search to prequalification to closing, we're here to help you make your move in Maryland! can even help you out as you kick off the search for a home. They can connect you to Mr. Cooper® Agent Assurance, a network 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. On the MLS site, you can compare Easton homes, check your home’s value, and set up Home Alerts to find 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 too deep into the weeds. You're here to learn more about moving in Maryland and the overall mortgage process. 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. 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 Easton and beyond.

The Easton home market is a competitive one, and you probably want to move fast — even more so if you found a house you can't live without. We know what that's like! Follow these important steps in the Maryland 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 this home is going to be a quick stopover, look at an adjustable-rate mortgage in Easton. 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. Let your mortgage professional help you select the best loan program for your needs during prequalification.

Then, follow your Easton lender's loan application process. Every lender has a somewhat different process. Generally, however, you'll need to provide the following information: 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.

From there, your lender will provide you with a loan estimate. You'll be presented with a potential interest rate, monthly payment, and estimated closing costs for the loan. Keep in mind that the loan estimate isn't your final Easton mortgage. It's a bit of preview, and you can seek out multiple estimates to find the absolute best option for you.

Go through the mortgage process in Easton with Mr. Cooper and we'll provide you with a Verified Approval letter, which is an extremely accurate estimate. This letter shows home sellers and realtors you are a serious buyer. Not all lenders offer Verified Approval letters as Mr. Cooper does.

Ask questions during the home loan process! The FTC advises that you should also ask each lender about additional fees, the loan's annual percentage rate, any special programs, and whether the quoted rate is the lowest for the week or day.

Make Your Move with a Home Loan in Easton, MD

The choice is up to you! Review your mortgage offers and select the one that's best 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 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 Easton or elsewhere. The Disclosure is more formal documentation of your first estimate. Feel free to ask questions if you see that there are differences between the first estimate and disclosure.

Closing on a House in Easton, MD

Once your home loan is approved by the lender, it's time to close on the home you want in Easton! During this step of the mortgage process, your closing attorney and broker come into the picture to sign off on the closing costs. Depending on your state, you could be required to work with a Easton closing attorney. They'll book 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 Easton, and it's time to celebrate. You're the proud owner of a house (or apartment or condo or townhome!) in Easton. Do the steps seem too simple? Contact Mr. Cooper today. We're on a mission to make the mortgage process in Easton super straightforward.

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