Special Offers From Mr. Cooper

Sorry, there are no offers available at this time. Check back soon!

Process for Getting a Mortgage in Beverly , MA

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

Busy? Have us call you back. Call Me Back

More Information

The Right Way to Start Your Beverly, MA Mortgage Process

Buying a house — it's a hope that unites us from coast to coast! And it's something that you can get help with from beginning to end. Keep reading and give Mr. Cooper a call if you're curious about the home loan process in Beverly, MA. Our mortgage professionals can help you work through your unique situation and suggest the best options for you at every turn.

From your initial Beverly loan search to prequalification to closing, we're here to help you make your move in Massachusetts! can even help out when you begin your hunt for a new house. They can get you started with Mr. Cooper® Agent Assurance, a large group of industry-respected 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 Beverly home, monitor neighborhood trends, and set up Home Alerts so you don’t miss a thing. 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 too deep into the weeds. You're here to learn more about moving in Massachusetts 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. 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. These facts apply to the home loan preparation process everywhere, not just in Beverly, MA.

The Beverly real estate scene is a busy one, and you'll want to take action quickly — especially if you've found your dream home. We understand! Here is a summary of the essential steps when applying for a mortgage in Beverly

First, ask yourself: How long do you plan on living in this house? Are you just passing through Beverly on your way to your forever home? Or will you be enjoying your golden years in this house? If you plan on sticking around for a long time, you might consider a fixed-rate loan. Your interest rate stays the same when you have a fixed-rate home loan. But if this home is going to be a quick stopover, look at an adjustable-rate mortgage in Beverly. On adjustable-rate loans, the interest rate is fixed for a set amount of time. After that date, the rate can adjust at specific intervals. A mortgage professional can help you choose the right loan program during the prequalification phase.

Then, complete your MA lender's loan application process. The process varies from lender to lender. Usually, though, you'll need to provide the following information: 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. You'll receive your estimated monthly payment, interest rate, and closing costs. A quick note: the loan estimate isn't your final Beverly mortgage. It's a bit of preview, and you can request multiple estimates to find the best loan for you.

Go through the mortgage process in Beverly with Mr. Cooper 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! Some lenders offer Verified Approval letters like Mr. Cooper, but not all.

Ask questions during the home loan process! The FTC urges home shoppers to inquire 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.

The Final Step for a Home Mortgage in Beverly, MA

The choice is up to you! Analyze your mortgage offers and pick 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 evaluate the benefits and drawbacks of each. Following your selection, your lender may approve your loan and send over a Closing Disclosure. The Closing Disclosure is a normal part of the mortgage process, no matter where you live in Massachusetts. Consider it a more formal version of your previous 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 Beverly, MA

Once your home loan is approved by the lender, it's go-time for buying your Beverly house! At this stage of the home loan process, your closing attorney and broker are brought in to confirm closing costs. Depending on your location, you may also be required to work with a closing attorney in Beverly who will schedule a time with you to sign your loan documents. You never have to worry about your closing date flying by and leaving you in a pinch. 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 Beverly, and it's time to roll out the welcome mat. Your Beverly house is now your home! Does that all sound too easy? Call Mr. Cooper. We do our best to make the home loan process in Beverly a super easy one.

Mr. Cooper Reviews from Real Customers in Beverly, MA

Take it from these Mr. Cooper home buyers in Beverly, MA: We love helping homeowners. Call now to see how we can serve you.

Overall Rating

out of 5 stars ( customer reviews)

Buying a house in Beverly? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers money at every stage of their journey, from real estate commissions to closing costs.