Special Offers From Mr. Cooper

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

Get to Know the Mortgage Process in Bloomington, MN

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

Busy? Have us call you back. Call Me Back

More Information

The Right Way to Start Your Bloomington, MN Mortgage Process

Living in a house that's yours, all yours — it's a mission that unites us from coast to coast! And it's an endeavor that you can get help with from beginning to end. If you're curious about the process of getting a mortgage in Bloomington, keep reading. Then call Mr. Cooper to take your next step. Our trained mortgage professionals will work alongside you and suggest the best loan options and terms for your circumstances.

Our mortgage professionals can even lend a helping hand 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 can assist with the buying and selling process. And if you're more of a DIY-er, you can browse homes on Mr. Cooper StreetSmarts. Here, you can search for a home in Bloomington, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. And get this — if you buy a home 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 Minnesota and going through the mortgage process in Bloomington! 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, 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 Bloomington or anywhere else.   How to Apply for a Home Loan in Bloomington, MN   Steps to Complete the Mortgage Process in Bloomington, MN How to Apply for a Mortgage in Bloomington, MN

Houses in Bloomington seem to move off the market just as fast as they come on, and you'll want to take action quickly — especially if you've found your dream home. We've been there, too! Follow these important steps in the Minnesota home loan process.

First, ask yourself: How long do you plan on living in this house? Do you plan on living in it for a few years and then renting it out? Or is this where you'll be raising your family? If you plan on sticking around for a long time, you might consider 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 Bloomington. Adjustable-rate loans have a fixed rate for some time. After that deadline, the rate can adjust at specific intervals. A mortgage professional can help you choose the right loan program during the prequalification phase.

Next, complete your MN lender's loan application process. Every lender has a somewhat different process. Still, in general, you'll need to provide the following information: pay stubs, Social Security numbers, income sources, purchase contract, credit check authorization, the address of the property you'd like to buy, banking details, and the amount of money you're looking to borrow.

Next up? A loan estimate from your lender! 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.

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

Ask your lender! The more questions you ask The FTC urges home shoppers to inquire about the loan's annual percentage rate, additional fees, special programs, and whether the quoted rate is the lowest for that day or week.

Make Your Move with a Home Loan in Bloomington, MN

You're in control now! Review your mortgage offers and pick the one that's best 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 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 Minnesota. 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.

Close on a Home in Bloomington, MN

Once your home loan is approved, it's time to close on the home you want in Bloomington! 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 may also be required to work with a closing attorney in Bloomington who will schedule a time with you to sign your loan documents. Even if paperwork takes longer than expected, you don't have to stress over your closing date being delayed. 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 Bloomington, and it's time to get your keys. Your Bloomington house is now your home! Does that all sound too easy? Call Mr. Cooper. We strive to make the Bloomington mortgage process an easy one.

Mr. Cooper Reviews from Real Customers in Bloomington, MN

Read real stories from real Mr. Cooper home buyers in Bloomington, MN. Then contact us to see what we can do for you.

Overall Rating

out of 5 stars ( customer reviews)

Make buying a Bloomington home easier.

Put Mr. Cooper in your corner for a better home buying experience.