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Get to Know the Mortgage Process in Saint Robert, MO

Whether you're buying your first home in Saint Robert or your seventh on the other side of Missouri, you have a friend in the home loan process. Mr. Cooper is the nation's fourth-largest mortgage servicer and can help you every step of the way.

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Saint Robert, MO Mortgage and Home Loan Process

Living in a house that's yours, all yours — it's a mission that we all share! 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 Saint Robert, then keep reading and give Mr. Cooper a call. Our mortgage professionals can help you work through your unique situation and suggest the best options for you at every turn.

From your initial Saint Robert loan search to prequalification to closing, we're here to help you make your move in Missouri! can even help out when 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 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 Saint Robert homes, check your home’s value, and set up Home Alerts to find your dream home. 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 Missouri and going through the mortgage process in Saint Robert! 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 your bank account full (instead of draining it on a home purchase) can help curb financial stress. Considering these facts is part of the home loan preparation process in Saint Robert and beyond.

The Saint Robert home market is a competitive one, and you'll want to take action quickly — especially if you're on a tight timeline. We understand! Here is a summary of the essential steps when applying for a mortgage in Saint Robert

Begin by considering how long you'll be at your new home. Is this a soon-to-be investment property? Or is this where you'll be raising your family? 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're planning on being in and out fast, then you might want to go the adjustable-rate route for your Saint Robert mortgage. Your interest rate is only fixed for a certain amount of time with an adjustable-rate loan. After that deadline, the rate can adjust at specific intervals. Let your mortgage professional help you select the best loan program for your needs during prequalification.

After, submit your Saint Robert lender's home loan application. The process varies from lender to lender. Usually, though, 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.

Your lender will then give you a loan estimate. You'll be presented with a potential interest rate, monthly payment, and estimated closing costs for the loan. Keep in mind that your loan estimate doesn't mean you've been approved or denied for a mortgage in Saint Robert. It's a bit of preview, and you can seek out multiple estimates to find the absolute best option for you.

Go through the mortgage process in Saint Robert with Mr. Cooper and we'll provide you with a Verified Approval letter, which is an extremely accurate estimate. This letter carries weight with realtors and home sellers because it shows you are serious and can buy a home. 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 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 Saint Robert, MO

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 even help you weigh 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 Missouri. 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.

Closing on a House in Saint Robert, MO

Once your home loan is approved, it's go-time for buying your Saint Robert house! During this step of the mortgage process, your broker and closing attorney are brought in to confirm closing costs. Depending on where you live, you could be required to work with a Saint Robert 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*.

You're in the home stretch once you've signed the documents! You've reached the end of the home loan process in Saint Robert, 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 Saint Robert. Do the steps seem too simple? Contact Mr. Cooper today. We strive to make the Saint Robert mortgage process an easy one.

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