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Process for Getting a Mortgage in Prineville , OR

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

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Prineville, OR Mortgage and Home Loan Process

Being a homeowner — it's an aspiration that unifies all kinds of people! And it's a process that you can get help with from beginning to end. If you're curious about the process of getting a mortgage in Prineville, keep reading. Then call Mr. Cooper to take your next step. Our mortgage professionals will get to know your particular situation and recommend the best options for you at every turn.

Our team can even lend a helping hand as you kick off the search for a home. They can get you connected to Mr. Cooper® Agent Assurance, an organization of industry-respected real estate agents who know home sales inside and out. Rather hunt on your own? That's cool, too. You can start with Mr. Cooper StreetSmarts. Here, you can search for a home in Prineville, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. And get this — if you buy a home 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 want more information about moving to Oregon and going through the mortgage process in Prineville! 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. 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. Considering these facts is part of the home loan preparation process in Prineville and beyond.

The Prineville home market is a competitive one, and you probably want to move fast — especially if you found a house you can't live without. We know what that's like! Follow these important steps in the Oregon home loan process.

First, ask yourself: How long do you plan on living in this house? Are you just passing through Prineville 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. The interest rate on a fixed-rate home loan doesn't change (unless you refinance). But if you're planning on being in and out fast, then you might want to go the adjustable-rate route for your Prineville mortgage. On adjustable-rate loans, the interest rate is fixed for a set amount of time. After that deadline, the rate can adjust at specific intervals. A mortgage professional can help you choose the right loan program during the prequalification phase.

Then, complete your OR lender's loan application process. The process varies from lender to lender. Generally, however, you'll need to provide the following information: income sources, pay stubs, Social Security numbers, the address of the house you'd like to buy, purchase contract, credit check authorization, banking details, and the amount of money you're looking to borrow.

Your lender will then give you a loan estimate. You'll be presented with a potential interest rate, monthly payment, and estimated closing costs for the loan. A quick note: your loan estimate doesn't mean you've been approved or denied for a mortgage in Prineville. It's a bit of preview, and you can seek out multiple estimates to find the absolute best option for you.

Work with Mr. Cooper when going through the mortgage process in Prineville and we'll provide you with a Verified Approval letter, which is an extremely accurate estimate. This letter means a lot to home sellers and realtors because it shows you can buy a home. You're not just browsing! Not all lenders offer 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 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 Prineville, OR

You're in control now! Compare your mortgage offers and select the option that's right for you. Think about the nuances of each, from the loan term to the interest rate. 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 Prineville or elsewhere. A Closing Disclosure is a more formal write-up of your initial estimate. Feel free to ask questions if you see that there are differences between the first estimate and disclosure.

Close on a Home in Prineville, OR

After your mortgage is approved, it's go-time for buying your Prineville house! During this step of the mortgage process, your closing attorney and broker are brought into the loop to verify the closing costs. Depending on where you live, you might have to bring in a Prineville 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*.

You're in the home stretch once you've signed the documents! You've reached the end of the home loan process in Prineville, and it's time to celebrate. You're the proud owner of a house (or apartment or condo or townhome!) in Prineville. 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 Prineville super straightforward.

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