Special Offers From Mr. Cooper

Sorry, there are no offers available at this time. Check back soon!

Get to Know the Home Loan Process in North Kingstown, RI

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

Busy? Have us call you back. Call Me Back

More Information

The Right Way to Start Your North Kingstown, RI Mortgage Process

Buying a house — it's a wish that unites us from coast to coast! 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 North Kingstown, RI. Our mortgage professionals will get to know your particular situation and recommend the best options for you at every turn.

Our mortgage professionals 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. Rather hunt on your own? That's cool, too. You can start with Mr. Cooper StreetSmarts. It's the site to visit if you need to find a North Kingstown 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 Rhode Island. Why might a person need a home loan in the first place? A home loan makes it so much easier to buy a house and can also offer tax benefits in some situations. 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. Considering these facts is part of the home loan preparation process in North Kingstown and beyond.

Houses in North Kingstown seem to move off the market just as fast as they come on, and you will likely want to act fast — particularly if you found a house you can't live without. We understand! Follow these important steps in the Rhode Island home loan process.

First, ask yourself: How long do you plan on living in this house? Do you plan on living in it for a few years and then renting it out? Or is this where you'll be raising your family? 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 North Kingstown. 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. A mortgage professional can help you choose the right loan program during the prequalification phase.

Then, complete your RI lender's loan application process. Every lender has a somewhat different process. Usually, though, you'll need to give the following info: 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. The estimate includes your anticipated closing costs, monthly payment, and possible interest rate. Keep in mind that your loan estimate doesn't mean you've been approved or denied for a mortgage in North Kingstown. It's an approximate calculation, and you can get multiple loan estimates to compare and select the right loan for you.

Work with Mr. Cooper when going through the mortgage process in North Kingstown and we'll look at your situation and give you a Verified Approval letter — a super-accurate estimate of what you can borrow! This letter carries weight with realtors and home sellers because it shows you are serious and can buy a home. Not every lender offers Verified Approval letters as Mr. Cooper does.

Ask your lender! The more questions you ask The FTC advises that you should also ask each lender about the loan's annual percentage rate, additional fees, special programs, and whether the quoted rate is the lowest for that day or week.

Seal the Deal with a Home Mortgage in North Kingstown, RI

The ball is in your court at this point! Analyze your mortgage offers and choose 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 drawbacks and advantages 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 Rhode Island. A Closing Disclosure is a more formal write-up of your initial estimate. There could be differences between the first estimate and the disclosure. It's fair to ask about these differences.

At Your Mortgage Closing in North Kingstown, RI

After your mortgage is approved, it's time to close on your dream house in North Kingstown! During this step of the mortgage process, your broker and closing attorney come into the picture to sign off on the closing costs. Depending on where you live, you might have to bring in a North Kingstown closing attorney to be there when you sign your loan docs. Even if paperwork takes longer than expected, you don't have to stress over your closing date being delayed. 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 arrived. You finished the home loan process in North Kingstown, and it's time to roll out the welcome mat. Your North Kingstown house is now your home! Do the steps seem too simple? Contact Mr. Cooper today. We strive to make the North Kingstown mortgage process an easy one.

Mr. Cooper Customer Reviews for North Kingstown, RI

Read real stories from real Mr. Cooper home buyers in North Kingstown, RI. Then contact us to see what we can do for you.

Overall Rating

out of 5 stars ( customer reviews)

Make buying a North Kingstown home easier.

Mr. Cooper works to save buyers money at every stage of their journey, from real estate commissions to closing costs.