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Get to Know the Mortgage Process in Ewing, NJ

Is there any way to make the Ewing mortgage process easier? You bet! Partner with Mr. Cooper and learn more about the steps to getting a home loan in Ewing, NJ.

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Ewing, NJ Mortgage and Home Loan Process

Owning a home — it's a mission that unites us from coast to coast! And it's an endeavor that you can get help with from start to finish. If you're curious about the process of getting a mortgage in Ewing, keep reading. Then call Mr. Cooper to take your next step. Our mortgage professionals can help you work through your unique situation to identify the right options for your needs.

Our mortgage professionals can even help you out as you begin your hunt for a new house. They can get you connected to Mr. Cooper® Agent Assurance, an organization 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 Ewing 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).

Before we get too far down the rabbit hole… You're here to learn more about moving in New Jersey and the overall mortgage process. Why do people need home loans to begin with? A home loan makes the home buying experience easier! Depending on the situation, it can also offer tax advantages. Plus, 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 Ewing and beyond.

Houses in Ewing seem to move off the market just as fast as they come on, and you probably want to move fast — even more so if you're on a tight timeline. We get it! Here are a few of the most important steps in the NJ mortgage 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're going to be in the house for years and years, look into 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 Ewing. On adjustable-rate loans, the interest rate is fixed for a set amount of time. After that date, the rate can go up or down at specific intervals. Let your mortgage professional help you select the best loan program for your needs during prequalification.

Then, complete your NJ lender's loan application process. The process varies from lender to lender. Still, in general, you'll need to give the following info: 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. 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.

Go through the mortgage process in Ewing with Mr. Cooper 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. 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 urges home shoppers to inquire about additional fees, the loan's annual percentage rate, any special programs, and whether the quoted rate is the lowest for the week or day.

Make Your Move with a Home Loan in Ewing, NJ

You're in control now! Review your mortgage offers and select 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 help you understand the benefits and drawbacks of each. Following your selection, your lender may approve your loan and send over a Closing Disclosure. Closing Disclosure documents are a regular part of the home loan process, wherever you live in New Jersey. Consider it a more formal version of your previous estimate. There might be differences in the first estimate and the disclosure. Ask your lender to explain these to you.

At Your Mortgage Closing in Ewing, NJ

Once your home loan is approved, it's time to close on the home you want in Ewing! At this point in the home loan process, your broker and closing attorney are brought into the loop to verify the closing costs. Depending on your location, you might have to bring in a Ewing closing attorney to be there when you sign your loan docs. 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 completed the mortgage process in Ewing, and it's time to celebrate. Your Ewing house is now your home! Do the steps seem too simple? Contact Mr. Cooper today. We're on a mission to make the mortgage process in Ewing super straightforward.

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