The Right Way to Start Your St. Helens, OR Mortgage Process
Living in a house that's yours, all yours — it's a mission that we all share! And it's something that you can get help with from start to finish. If you're curious about the process of getting a mortgage in St. Helens, keep reading. Then call Mr. Cooper to take your next step. Our trained mortgage professionals will work alongside you and suggest the best loan options and terms for your circumstances.
From immersing yourself in the culture of St. Helens's neighborhoods to closing on the home you've always wanted, we're here to ease your transition in Oregon. can even help out when you start your house hunt. They can connect you to Mr. Cooper® Agent Assurance, a network of industry-leading 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. On the MLS site, you can compare St. Helens homes, check your home’s value, and set up Home Alerts to find 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).
But we're getting ahead of ourselves. You're interested in the home loan process in Oregon. At a basic level, why do people get home loans? 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. This information applies whether you're going through the home loan preparation process in St. Helens or anywhere else. How to Apply for a Home Loan in St. Helens, OR Steps to Complete the Mortgage Process in St. Helens, OR How to Apply for a Mortgage in St. Helens, OR
Houses in St. Helens seem to move off the market just as fast as they come on, and you'll want to take action quickly — especially if you're on a tight timeline. We get it! Here is a summary of the essential steps when applying for a mortgage in St. Helens
Begin by considering how long you'll be at your new home. Is this a soon-to-be investment property? Or will you be planting some deep roots in St. Helens? 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 plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in St. Helens. Adjustable-rate loans have a fixed rate for some time. After that date, the rate can go up or down at specific intervals. During the pre-qualification phase, your mortgage professional can connect you with the right loan program for your situation.
After, complete your OR lender's loan application process. Every lender has a somewhat different process. Usually, though, you'll have to provide the following details: pay stubs, Social Security numbers, income sources, credit check authorization, the address of the home you'd like to buy, purchase contract, banking details, and the amount of money you're looking to borrow.
From there, your lender will provide you with a loan estimate. The estimate includes your anticipated closing costs, monthly payment, and possible interest rate. Remember that the loan estimate isn't your final St. Helens mortgage. It's an estimate, and you can get multiple loan estimates to compare and select the right loan for you.
Go through the mortgage process in St. Helens with Mr. Cooper 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 afford a home. You're not just browsing! Not all lenders offer Verified Approval letters as Mr. Cooper does.
Ask your lender! The more questions you ask 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 St. Helens, OR
The ball is in your court at this point! Review your mortgage offers and pick the offer that's good 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 benefits and drawbacks 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 Oregon. The Disclosure is more formal documentation of your first 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 St. Helens, OR
After your mortgage is approved, it's time to close on your dream house in St. Helens! At this point in the home loan process, your broker and closing attorney 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 St. Helens who will schedule a 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*.
Once you've "signed on the dotted line," as they say, you're in the home stretch — literally! You've reached the end of the home loan process in St. Helens, and it's time to get your keys. Your St. Helens house is now your home! Does that all sound too easy? Call Mr. Cooper. We do our best to make the home loan process in St. Helens a super easy one.