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Process for Getting a Mortgage in Lewistown , PA

Whether you're buying your first home in Lewistown or your seventh on the other side of Pennsylvania, 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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Lewistown, PA Mortgage and Home Loan Process

Buying a house — it's a goal that unites us from coast to coast! And it's a process that you can get help with from beginning to end. If you find yourself wondering what the home loan process is like in Lewistown, then keep reading and give Mr. Cooper a call. Our mortgage professionals will get to know your particular situation and suggest 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-leading real estate agents who assist with home buying and selling.. 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 Lewistown 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 interested in the home loan process in Pennsylvania. Why might a person need a home loan in the first place? 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, keeping your bank account full (instead of draining it on a home purchase) can help curb financial stress. These facts apply to the home loan preparation process everywhere, not just in Lewistown, PA.

The Lewistown real estate scene is a busy one, and you will likely want to act fast — particularly if you found a house you can't live without. We understand! Here is a summary of the essential steps when applying for a mortgage in Lewistown

Begin by considering how long you'll be at your new home. Is this a soon-to-be investment property? 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 plan on moving up and out pretty quickly, look into an adjustable-rate mortgage in Lewistown. Adjustable-rate loans have a fixed rate for some 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 Lewistown lender's loan application process. The process can vary a bit between lenders. Still, in general, you'll need to provide the following information: income sources, pay stubs, Social Security numbers, purchase contract, credit check authorization, the address of the property you'd like to buy, banking information, and the amount you'd like 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. A quick note: your loan estimate doesn't mean you've been approved or denied for a mortgage in Lewistown. 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 Lewistown with Mr. Cooper 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 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 questions during the home loan process! The FTC advises that you should also ask each lender 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 Lewistown, PA

You're in control now! Review your mortgage offers and select 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 help you understand the pros and cons of each. Following your selection, your lender may approve your loan and send over 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.

Closing on a House in Lewistown, PA

After your mortgage is approved, it's time to close on your dream house in Lewistown! During this step of the mortgage process, your closing attorney and broker are brought into the loop to verify the closing costs. Depending on your state, you might have to bring in a Lewistown 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 arrived. You finished the home loan process in Lewistown, and it's time to roll out the welcome mat. You're the proud owner of a house (or apartment or condo or townhome!) in Lewistown. 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 Lewistown a super easy one.

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