North Platte, NE Mortgage and Home Loan Process
Buying a house — it's a wish that unifies all kinds of people! And it's something that you can get assistance with along the way. Keep reading and give Mr. Cooper a call if you're curious about the home loan process in North Platte, NE. Our mortgage professionals will get to know your particular situation to identify the best loan options and terms for your circumstances.
Our mortgage professionals can even lend a helping hand as you start your house hunt. They can connect you to Mr. Cooper® Agent Assurance, a network of industry-respected real estate agents who can assist with the buying and selling process. 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 North Platte 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).
Before we get too far down the rabbit hole… You want more information about moving to Nebraska and going through the mortgage process in North Platte! At a basic level, why do people get home loans? A home loan makes it so much easier to buy a house and can also offer tax benefits in some situations. Plus, 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 North Platte or anywhere else. How to Apply for a Home Loan in North Platte, NE Steps to Complete the Mortgage Process in North Platte, NE How to Apply for a Mortgage in North Platte, NE
The North Platte home market is a competitive one, and you probably want to move fast — especially if you found a house you can't live without. We understand! Follow these important steps in the Nebraska home loan process.
First, ask yourself: How long do you plan on living in this house? 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. The interest rate on a fixed-rate home loan doesn't change (unless you refinance). But if this home is going to be a quick stopover, look at an adjustable-rate mortgage in North Platte. Adjustable-rate loans have a fixed rate for some 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.
After, follow your North Platte lender's loan application process. The process can vary a bit between lenders. Generally, however, you'll have to provide the following details: pay stubs, Social Security numbers, income sources, credit check authorization, the address of the home you'd like to buy, purchase contract, 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. Remember that a loan estimate isn't the same thing as a mortgage. It's an estimate, and you can request multiple estimates to find the best loan for you.
Partner with Mr. Cooper to complete the North Platte 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 carries weight with realtors and home sellers because it shows you are serious and can afford a home. Some lenders offer Verified Approval letters like Mr. Cooper, but not all.
Ask questions during the home loan process! The FTC recommends home buyers to ask 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 North Platte, NE
The choice is up to you! Compare your mortgage offers and select the one that's best for you. Consider the details of each, from the interest rate to the loan term. A Mr. Cooper mortgage professional can help you understand 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 North Platte 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.
At Your Mortgage Closing in North Platte, NE
After your mortgage is approved, it's go-time for buying your North Platte house! During this step of the mortgage process, your broker and closing attorney are brought in to confirm closing costs. Depending on your location, you could be required to work with a North Platte 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 completed the mortgage process in North Platte, and it's time to get your keys. Your North Platte house is now your home! And if this all sounds too simple to be true, give Mr. Cooper a call. We strive to make the North Platte mortgage process an easy one.