Special Offers From Mr. Cooper

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

Get to Know the Home Loan Process in Oxford, MS

Are you a first-time Mississippi homebuyer? Or, maybe you're new to Oxford 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.

Busy? Have us call you back. Call Me Back

More Information

The Right Way to Start Your Oxford, MS Mortgage Process

Buying a house — it's a dream that unifies all kinds of people! And it's something that you can get assistance with along the way. If you find yourself wondering what the home loan process is like in Oxford, then keep reading and give Mr. Cooper a call. Our trained mortgage professionals will work alongside you to identify the best loan options and terms for your circumstances.

Our team can even help out when you start your house hunt. They can get you started with Mr. Cooper® Agent Assurance, a large group of industry-leading real estate agents who know home sales inside and out. And if you'd rather search at your own pace, you can get started on the Mr. Cooper StreetSmarts site. On the MLS site, you can compare Oxford homes, check your home’s value, and set up Home Alerts to find your dream home. 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 ahead of ourselves. You're interested in the home loan process in Mississippi. 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. Plus, 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 Oxford, MS.

Houses in Oxford seem to move off the market just as fast as they come on, and you will likely want to act fast — even more so if you're on a tight timeline. We've been there, too! Here is a summary of the essential steps when applying for a mortgage in Oxford

Start by thinking about how long you'll be in your new home. Do you plan on living in it for a few years and then renting it out? 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. The interest rate on a fixed-rate home loan doesn't change (unless you refinance). But if you plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in Oxford. 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 MS lender's loan application process. Every lender has a somewhat different process. Generally, however, 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, the amount you want to borrow, and your banking info.

Next up? A loan estimate from your lender! You'll be presented with a potential interest rate, monthly payment, and estimated closing costs for the loan. A quick note: the loan estimate isn't your final Oxford mortgage. It's an estimate, and you can seek out multiple estimates to find the absolute best option for you.

Partner with Mr. Cooper to complete the Oxford mortgage process 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! Not all lenders offer Verified Approval letters as Mr. Cooper does.

Ask your lender! The more questions you ask 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.

Make Your Move with a Home Loan in Oxford, MS

You're in control now! Compare your mortgage offers and pick the offer that's good 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. Once you confirm your choice with the lender, they might approve your loan and send a Closing Disclosure. It's a standard part of the home loan process, whether you live in Oxford 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.

Close on a Home in Oxford, MS

After your mortgage is approved, it's time to close on the home you want in Oxford! At this point in the home loan 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 Oxford 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*.

Once you've "signed on the dotted line," as they say, you're in the home stretch — literally! You've arrived. You finished the home loan process in Oxford, and it's time to celebrate. You are a homeowner in Oxford! Do the steps seem too simple? Contact Mr. Cooper today. We strive to make the Oxford mortgage process an easy one.

Mr. Cooper Customer Reviews for Oxford, MS

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

Make buying a Oxford home easier.

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