Special Offers From Mr. Cooper

Sorry, there are no offers available at this time. Check back soon!

Get to Know the Home Loan Process in Lakewood, NJ

Whether you're buying your first home in Lakewood or your seventh on the other side of New Jersey, 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.

Busy? Have us call you back. Call Me Back

More Information

Lakewood, NJ Mortgage and Home Loan Process

Being a homeowner — it's a mission that we all share! And it's a process that you can get help with from start to finish. If you find yourself wondering what the home loan process is like in Lakewood, then keep reading and give Mr. Cooper a call. Our trained mortgage professionals will work alongside you and recommend the best options for you at every turn.

Our crew can even help you out as you kick off the search for a home. They can get you started with Mr. Cooper® Agent Assurance, a large group of industry-respected real estate agents who assist with home buying and selling.. 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 Lakewood home, monitor neighborhood trends, and set up Home Alerts so you don’t miss a thing. But the savings don't stop there. Purchase a house with a Mr. Cooper mortgage and we'll pay for your actual move (up to 50 miles).

Before we get too far down the rabbit hole… You want more information about moving to New Jersey and going through the mortgage process in Lakewood! 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. What's more, having a cash buffer in your bank account (instead of spending it all on a home) can help when life throws you a curveball. These facts apply to the home loan preparation process everywhere, not just in Lakewood, NJ.

Houses in Lakewood seem to move off the market just as fast as they come on, and you probably want to move fast — particularly if you found a house you can't live without. We know what that's like! 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? Are you just passing through Lakewood on your way to your forever home? Or will you be enjoying your golden years in this house? 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 you're planning on being in and out fast, then you might want to go the adjustable-rate route for your Lakewood mortgage. On adjustable-rate loans, the interest rate is fixed for a set amount of time. When that period is over, 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.

After, follow your Lakewood lender's loan application process. The process can vary a bit between lenders. 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.

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 Lakewood mortgage. 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 Lakewood 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. Some lenders offer Verified Approval letters like Mr. Cooper, but not all.

Ask your lender! The more questions you ask 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.

Seal the Deal with a Home Mortgage in Lakewood, NJ

The ball is in your court at this point! Compare your mortgage offers and choose 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 pros and cons of each. After you notify the lender about your choice, they may approve your loan and send you 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. Feel free to ask questions if you see that there are differences between the first estimate and disclosure.

At Your Mortgage Closing in Lakewood, NJ

Once your home loan is approved, it's time to close on your dream house in Lakewood! 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 could be required to work with a Lakewood 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*.

It's practically time to move in and unpack your boxes once you sign on the dotted line! You've reached the end of the home loan process in Lakewood, and it's time to get your keys. You're the proud owner of a house (or apartment or condo or townhome!) in Lakewood. Does that all sound too easy? Call Mr. Cooper. We're on a mission to make the mortgage process in Lakewood super straightforward.

Lakewood, NJ Mr. Cooper Customer Reviews

Read real stories from real Mr. Cooper home buyers in Lakewood, NJ. Then contact us to see what we can do for you.

Overall Rating

out of 5 stars ( customer reviews)

Make buying a Lakewood home easier.

Put Mr. Cooper in your corner for a better home buying experience.