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Get to Know the Home Loan Process in Athens, OH

Whether you're buying your first home in Athens or your seventh on the other side of Ohio, 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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The Right Way to Start Your Athens, OH Mortgage Process

Buying a house — it's an aspiration that unites us from coast to coast! 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 Athens, OH. Our mortgage professionals can help you work through your unique situation to identify the best options for you at every turn.

Our team can even help out when you kick off the search for a home. 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. Here, you can search for a home in Athens, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. 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).

But we're getting ahead of ourselves. You want more information about moving to Ohio and going through the mortgage process in Athens! 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. What's more, 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 Athens, OH.

The Athens real estate scene is a busy one, and you'll want to take action quickly — even more so 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 OH mortgage loan process.

Start by thinking about how long you'll be in your new home. Are you just passing through Athens on your way to your forever home? 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. Your interest rate doesn't change with a fixed-rate home loan. But if you plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in Athens. Adjustable-rate loans have a fixed rate for some 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, follow your Athens lender's loan application process. Every lender has a somewhat different process. Usually, though, you'll have to provide the following details: Social Security numbers, pay stubs, 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.

Your lender will then give you a loan estimate. The estimate includes your anticipated closing costs, monthly payment, and possible interest rate. A quick note: the loan estimate isn't your final Athens mortgage. It's an estimate, and you can request multiple estimates to find the best loan for you.

Work with Mr. Cooper when going through the mortgage process in Athens 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 means a lot to home sellers and realtors because it shows you can afford a home. You're not just browsing! Not every lender offers Verified Approval letters as Mr. Cooper does.

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 Athens, OH

The choice is up to you! Analyze your mortgage offers and choose the offer that's good for you. Think about the nuances of each, from the loan term to the interest rate. A Mr. Cooper mortgage professional can help you evaluate the drawbacks and advantages of each. After you notify the lender about your choice, they may approve your loan and send you a Closing Disclosure. The Closing Disclosure is a normal part of the mortgage process, no matter where you live in Ohio. Consider it a more formal version of your previous 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 Athens, OH

Once your home loan is approved by the lender, it's go-time for buying your Athens house! At this stage of the home loan process, your closing attorney and broker come into the picture to sign off on the closing costs. Depending on your location, you may also be required to work with a closing attorney in Athens 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*.

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 Athens, and it's time to get your keys. You're the proud owner of a house (or apartment or condo or townhome!) in Athens. And if this all sounds too simple to be true, give Mr. Cooper a call. We're on a mission to make the mortgage process in Athens super straightforward.

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