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Get to Know the Mortgage Process in Fairhaven, MA

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

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The Right Way to Start Your Fairhaven, MA Mortgage Process

Being a homeowner — it's a dream that unites us from coast to coast! And it's a process that you can get assistance with along the way. If you find yourself wondering what the home loan process is like in Fairhaven, then keep reading and give Mr. Cooper a call. Our mortgage professionals can help you work through your unique situation and recommend the best options for you at every turn.

From immersing yourself in the culture of Fairhaven's neighborhoods to closing on the home you've always wanted, we're here to ease your transition in Massachusetts. can even help out when you begin your hunt for a new house. They can get you connected to Mr. Cooper® Agent Assurance, an organization of industry-leading real estate agents who assist with home buying and selling.. 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 Fairhaven 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).

But we're getting too deep into the weeds. You want more information about moving to Massachusetts and going through the mortgage process in Fairhaven! Why might a person need a home loan in the first place? 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 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 Fairhaven, MA.

The Fairhaven real estate scene is a busy one, and you will likely want to act fast — even more so if you've found your dream home. We've been there, too! Follow these important steps in the Massachusetts 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 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 Fairhaven. Your interest rate is only fixed for a certain amount of time with an adjustable-rate loan. After that date, 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.

Next, complete your MA lender's loan application process. The process varies from lender to lender. Still, in general, you'll need to give the following info: pay stubs, Social Security numbers, income sources, the address of the house you'd like to buy, purchase contract, credit check authorization, banking information, and the amount you'd like to borrow.

Your lender will then give you a loan estimate. You'll receive your estimated monthly payment, interest rate, and closing costs. Remember that a loan estimate isn't the same thing as a mortgage. It's an approximate calculation, and you can get multiple loan estimates to compare and select the right loan for you.

Work with Mr. Cooper when going through the mortgage process in Fairhaven and we'll look at your situation and give you a Verified Approval letter — a super-accurate estimate of what you can afford to borrow! This letter carries weight with realtors and home sellers because it shows you are serious and can afford a home. Not all lenders offer Verified Approval letters as Mr. Cooper does.

Just ask! It's normal to have questions about the home loan process. The FTC advises that you should also ask each lender 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.

Make Your Move with a Home Loan in Fairhaven, MA

The ball is in your court at this point! Analyze your mortgage offers and pick the option that's right for you. Consider the details of each, from the interest rate to the loan term. A Mr. Cooper mortgage professional can help you evaluate the benefits and drawbacks of each. After you notify the lender about your choice, they may approve your loan and send you a Closing Disclosure. It's a standard part of the home loan process, whether you live in Fairhaven or elsewhere. The Disclosure is more formal documentation of your first estimate. There could be differences between the first estimate and the disclosure. It's fair to ask about these differences.

Close on a Home in Fairhaven, MA

After your mortgage is approved, it's time to close on the home you want in Fairhaven! During this step of the mortgage process, your closing attorney and broker are brought into the loop to verify the closing costs. Depending on where you live, you could be required to work with a Fairhaven 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*.

It's practically time to move in and unpack your boxes once you sign on the dotted line! You've completed the mortgage process in Fairhaven, and it's time to roll out the welcome mat. You're the proud owner of a house (or apartment or condo or townhome!) in Fairhaven. Does that all sound too easy? Call Mr. Cooper. We do our best to make the home loan process in Fairhaven a super easy one.

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