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 Burke, VA

Whether you're buying your first home in Burke or your seventh on the other side of Virginia, 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.

Busy? Have us call you back. Call Me Back

More Information

Burke, VA: A Home Loan Process That's Unique to You

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. Keep reading and give Mr. Cooper a call if you're curious about the home loan process in Burke, VA. Our mortgage professionals will get to know your particular situation to identify the best loan options and terms for your circumstances.

Our team can even lend a helping hand as you start your house hunt. They can get you connected to Mr. Cooper® Agent Assurance, an organization of industry-leading real estate agents who can assist with the buying and selling process. And if you'd rather search at your own pace, you can get started on the Mr. Cooper StreetSmarts site. Here, you can search for a home in Burke, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. But the savings don't stop there. Purchase a house with a Mr. Cooper mortgage and we'll pay for your actual move (up to 50 miles).

But we're getting too deep into the weeds. You're here to learn more about moving in Virginia and the overall mortgage process. Why do people need home loans to begin with? A home loan makes the home buying experience easier! Depending on the situation, it can also offer tax advantages. In addition, having a cash buffer in your bank account (instead of spending it all on a home) can help when life throws you a curveball. These facts apply to the home loan preparation process everywhere, not just in Burke, VA.

The Burke real estate scene is a busy one, and you probably want to move fast — particularly if you're on a tight timeline. We get it! Here are a few of the most important steps in the VA mortgage loan process.

Begin by considering how long you'll be at your new home. Are you just passing through Burke on your way to your forever home? Or is this where you'll be raising your family? 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 Burke. Your interest rate is only fixed for a certain amount of time with an adjustable-rate loan. 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.

Next, follow your Burke lender's loan application process. Every lender has a somewhat different process. Usually, though, 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.

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. Keep in mind that your loan estimate doesn't mean you've been approved or denied for a mortgage in Burke. 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 Burke 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 every lender offers Verified Approval letters as Mr. Cooper does.

Ask your lender! The more questions you ask The FTC recommends home buyers to ask 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.

Seal the Deal with a Home Mortgage in Burke, VA

The choice is up to you! Review your mortgage offers and select the offer that's good for you. Think about the nuances of each, from the loan term to the interest rate. 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 Virginia. Consider it a more formal version of your previous 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 Burke, VA

Once your home loan is approved by the lender, it's time to close on your dream house in Burke! At this point in the home loan process, your broker and closing attorney are brought into the loop to verify the closing costs. Depending on your location, you may also be required to work with a closing attorney in Burke who will schedule a time with you to sign your loan documents. You never have to worry about your closing date flying by and leaving you in a pinch. 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 completed the mortgage process in Burke, and it's time to celebrate. You are a homeowner in Burke! Does that all sound too easy? Call Mr. Cooper. We do our best to make the home loan process in Burke a super easy one.

Burke, VA Mr. Cooper Customer Reviews

Read actual reviews from actual Mr. Cooper customers in Burke, VA. Then call us to see how we can help you.

Overall Rating

out of 5 stars ( customer reviews)

Buying a house in Burke? Mr. Cooper makes it easier.

Put Mr. Cooper in your corner for a better home buying experience.