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Process for Getting a Mortgage in Hershey , PA

Are you a first-time Pennsylvania homebuyer? Or, maybe you're new to Hershey and looking to buy a home in the area. Either way, you might have questions about the home loan process. Get answers from Mr. Cooper.

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Hershey, PA: A Home Loan Process That's Unique to You

Being a homeowner — it's a wish that unifies all kinds of people! And it's a process 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 Hershey, PA. Our mortgage professionals can help you work through your unique situation and recommend the best options for you at every turn.

From immersing yourself in the culture of Hershey's neighborhoods to closing on the home you've always wanted, we're here to ease your transition in Pennsylvania. can even help out when you start your house hunt. They can get you connected to Mr. Cooper® Agent Assurance, an organization of industry-respected real estate agents who can assist with the buying and selling process. And if you're more of a DIY-er, you can browse homes on Mr. Cooper StreetSmarts. It's the site to visit if you need to find a Hershey home, monitor neighborhood trends, and set up Home Alerts so you don’t miss a thing. 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're here to learn more about moving in Pennsylvania and the overall mortgage process. At a basic level, why do people get home loans? A home loan makes it so much easier to buy a house and can also offer tax benefits in some situations. Plus, having a cash buffer in your bank account (instead of spending it all on a home) can help when life throws you a curveball. This information applies whether you're going through the home loan preparation process in Hershey or anywhere else.   How to Apply for a Home Loan in Hershey, PA   Steps to Complete the Mortgage Process in Hershey, PA How to Apply for a Mortgage in Hershey, PA

Houses in Hershey seem to move off the market just as fast as they come on, and you'll want to take action quickly — particularly if you're on a tight timeline. We get it! Here is a summary of the essential steps when applying for a mortgage in Hershey

First, ask yourself: How long do you plan on living in this house? Are you just passing through Hershey on your way to your forever home? Or will you be planting some deep roots in Hershey? If you plan on sticking around for a long time, you might consider 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 Hershey. Your interest rate is only fixed for a certain amount of time with an adjustable-rate loan. After that deadline, 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, complete your PA lender's loan application process. The process varies from lender to lender. Still, in general, you'll need to give the following info: 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.

Next up? A loan estimate from your lender! You'll receive your estimated monthly payment, interest rate, and closing costs. Remember that the loan estimate isn't your final Hershey mortgage. It's an approximate calculation, 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 Hershey and we'll review your information and provide you with a Verified Approval letter, which is a very accurate estimate of what you could afford. This letter shows home sellers and realtors you are a serious buyer. 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.

Seal the Deal with a Home Mortgage in Hershey, PA

The choice is up to you! Analyze your mortgage offers and pick the offer that's good for you. Consider the details of each, from the interest rate to the loan term. 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. The Closing Disclosure is a normal part of the mortgage process, no matter where you live in Pennsylvania. 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.

Close on a Home in Hershey, PA

After your mortgage is approved, it's go-time for buying your Hershey house! At this stage of the home loan process, your broker and closing attorney are brought in to confirm closing costs. Depending on your location, you could be required to work with a Hershey 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 completed the mortgage process in Hershey, and it's time to roll out the welcome mat. You are a homeowner in Hershey! And if this all sounds too simple to be true, give Mr. Cooper a call. We do our best to make the home loan process in Hershey a super easy one.

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