The Right Way to Start Your Taunton, MA Mortgage Process
Being a homeowner — it's an aspiration that we all share! And it's an endeavor that you can get help with from start to finish. If you're curious about the process of getting a mortgage in Taunton, keep reading. Then call Mr. Cooper to take your next step. Our mortgage professionals will get to know your particular situation and recommend the right options for your needs.
From immersing yourself in the culture of Taunton's neighborhoods to closing on the home you've always wanted, we're here to ease your transition in Massachusetts. can even help you out as you begin your hunt for a new house. They can connect you to Mr. Cooper® Agent Assurance, a network of well-known, licensed 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 Taunton 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 ahead of ourselves. You want more information about moving to Massachusetts and going through the mortgage process in Taunton! At a basic level, why do people get home loans? A home loan helps you buy a house sooner than you might otherwise be able. In some situations, it can also offer tax perks. In addition, keeping some cash in your bank account (instead of spending it all on a house) can come in handy for unexpected life expenses. This information applies whether you're going through the home loan preparation process in Taunton or anywhere else. How to Apply for a Home Loan in Taunton, MA Steps to Complete the Mortgage Process in Taunton, MA How to Apply for a Mortgage in Taunton, MA
Houses in Taunton seem to move off the market just as fast as they come on, and you'll want to take action quickly — especially if you're on a tight timeline. We get it! Here are a few of the most important steps in the MA mortgage loan process.
Start by thinking about how long you'll be in your new home. Are you just passing through Taunton on your way to your forever home? Or will you be planting some deep roots in Taunton? If you're going to be in the house for years and years, look into a fixed-rate loan. Your interest rate doesn't change with a fixed-rate home loan. But if you plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in Taunton. 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. 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 have to provide the following details: income sources, pay stubs, Social Security numbers, purchase contract, credit check authorization, the address of the property you'd like to buy, 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: your loan estimate doesn't mean you've been approved or denied for a mortgage in Taunton. 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 Taunton with Mr. Cooper 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 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.
Just ask! It's normal to have questions about the home loan process. The FTC urges home shoppers to inquire 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 Taunton, MA
The choice is up to you! Review your mortgage offers and choose 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. Once you confirm your choice with the lender, they might approve your loan and send a Closing Disclosure. The Closing Disclosure is a normal part of the mortgage process, no matter where you live in Massachusetts. 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 Taunton, MA
After your mortgage is approved, it's time to close on the home you want in Taunton! At this point in the home loan process, your broker and closing attorney come into the picture to sign off on the closing costs. Depending on your state, you could be required to work with a Taunton closing attorney. They'll book 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 reached the end of the home loan process in Taunton, and it's time to celebrate. Your Taunton house is now your home! Do the steps seem too simple? Contact Mr. Cooper today. We strive to make the Taunton mortgage process an easy one.