Exeter, NH: A Home Loan Process That's Unique to You
Being a homeowner — it's an ambition that we all share! And it's a process that you can get help with from beginning to end. Keep reading and give Mr. Cooper a call if you're curious about the home loan process in Exeter, NH. Our mortgage professionals will get to know your particular situation and suggest the best options for you at every turn.
From immersing yourself in the culture of Exeter's neighborhoods to closing on the home you've always wanted, we're here to ease your transition in New Hampshire. can even lend a helping hand as you begin your hunt for a new house. 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're more of a DIY-er, you can browse homes on Mr. Cooper StreetSmarts. It's the site to visit if you need to find a Exeter home, monitor neighborhood trends, and set up Home Alerts so you don’t miss a thing. And get this — if you buy a home with a Mr. Cooper mortgage, we'll pay for your move (up to 50 miles).
But we're getting too deep into the weeds. You're interested in the home loan process in New Hampshire. 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. Plus, 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 Exeter, NH.
The Exeter home market is a competitive one, and you probably want to move fast — even more so if you found a house you can't live without. We've been there, too! Here are a few of the most important steps in the NH mortgage loan process.
Start by thinking about how long you'll be in your new home. Are you just passing through Exeter on your way to your forever home? Or will you be planting some deep roots in Exeter? You might consider a fixed-rate loan if you plan on staying in the house for the long-term. Your interest rate doesn't change with a fixed-rate home loan. But if this home is going to be a quick stopover, look at an adjustable-rate mortgage in Exeter. Your interest rate is only fixed for a certain amount of time with an adjustable-rate loan. 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.
Next, follow your Exeter lender's loan application process. The process can vary a bit between lenders. 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.
From there, your lender will provide you with a loan estimate. You'll receive your estimated monthly payment, interest rate, and closing costs. Remember that the loan estimate isn't your final Exeter mortgage. It's a bit of preview, and you can get multiple loan estimates to compare and select the right loan for you.
Go through the mortgage process in Exeter with Mr. Cooper and we'll review your information and provide you with a Verified Approval letter, which is a very accurate estimate of what you could buy. This letter carries weight with realtors and home sellers because it shows you are serious and can buy a home. Not every lender offers Verified Approval letters as Mr. Cooper does.
Just ask! It's normal to have questions about the home loan process. The FTC recommends home buyers to ask about the loan's annual percentage rate, additional fees, special programs, and whether the quoted rate is the lowest for that day or week.
Seal the Deal with a Home Mortgage in Exeter, NH
The ball is in your court at this point! Review your mortgage offers and choose the one that's best for you. Examine the details in each one, from the loan term to the APR. A Mr. Cooper mortgage professional can even help you weigh the drawbacks and advantages of each. Following your selection, your lender may approve your loan and send over a Closing Disclosure. It's a standard part of the home loan process, whether you live in Exeter or elsewhere. A Closing Disclosure is a more formal write-up of your initial estimate. There could be differences between the first estimate and the disclosure. It's fair to ask about these differences.
Close on a Home in Exeter, NH
Once your home loan is approved, it's time to close on your dream house in Exeter! During this step of the mortgage process, your closing attorney and broker come into the picture to sign off on the closing costs. Depending on your state, you may also be required to work with a closing attorney in Exeter who will schedule a time with you to sign your loan documents. You never have to worry about your closing date flying by and leaving you in a pinch. 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 Exeter, and it's time to celebrate. You are a homeowner in Exeter! Do the steps seem too simple? Contact Mr. Cooper today. We do our best to make the home loan process in Exeter a super easy one.