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Get to Know the Mortgage Process in Sun Valley, NV

Whether you're buying your first home in Sun Valley or your seventh on the other side of Nevada, 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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Sun Valley, NV Mortgage and Home Loan Process

Living in a house that's yours, all yours — it's a dream that unifies all kinds of people! And it's an endeavor that you can get help with from start to finish. Keep reading and give Mr. Cooper a call if you're curious about the home loan process in Sun Valley, NV. Our trained mortgage professionals will work alongside you and recommend the best loan options and terms for your circumstances.

From immersing yourself in the culture of Sun Valley's neighborhoods to closing on the home you've always wanted, we're here to ease your transition in Nevada. can even help out when you start your house hunt. They can connect you to Mr. Cooper® Agent Assurance, a network of industry-respected real estate agents who know home sales inside and out. And if you're more of a DIY-er, you can browse homes on Mr. Cooper StreetSmarts. On the MLS site, you can compare Sun Valley 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 Nevada and going through the mortgage process in Sun Valley! Why do people need home loans to begin with? 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. These facts apply to the home loan preparation process everywhere, not just in Sun Valley, NV.

The Sun Valley real estate scene is a busy one, and you will likely want to act fast — even more so if you found a house you can't live without. We get it! Follow these important steps in the Nevada 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 is this where you'll be raising your family? If you're going to be in the house for years and years, look into a fixed-rate loan. Your interest rate stays the same when you have a fixed-rate home loan. But if you're planning on being in and out fast, then you might want to go the adjustable-rate route for your Sun Valley mortgage. Adjustable-rate loans have a fixed rate for some time. After that date, 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 Sun Valley lender's home loan application. Every lender has a somewhat different process. Generally, however, you'll need to give the following info: Social Security numbers, pay stubs, 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.

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: a loan estimate isn't the same thing as a mortgage. It's an estimate, and you can get multiple loan estimates to compare and select the right loan for you.

Go through the mortgage process in Sun Valley 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 afford a home. 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 the loan's annual percentage rate, additional fees, special programs, and whether the quoted rate is the lowest for that day or week.

The Final Step for a Home Mortgage in Sun Valley, NV

You're in control now! Analyze your mortgage offers and choose the offer that's good for you. Examine the details in each one, from the loan term to the APR. 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 Nevada. 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.

Closing on a House in Sun Valley, NV

After your mortgage is approved, it's time to close on your dream house in Sun Valley! 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 might have to bring in a Sun Valley closing attorney to be there when you sign your loan docs. 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 Sun Valley, and it's time to get your keys. Your Sun Valley house is now your home! Does that all sound too easy? Call Mr. Cooper. We do our best to make the home loan process in Sun Valley a super easy one.

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