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Get to Know the Home Loan Process in Longview, WA

Whether you're buying your first home in Longview or your seventh on the other side of Washington, 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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Longview, WA: A Home Loan Process That's Unique to You

Being a homeowner — it's a mission that unites us from coast to coast! And it's an endeavor that you can get help with from start to finish. If you're curious about the process of getting a mortgage in Longview, keep reading. Then call Mr. Cooper to take your next step. Our mortgage professionals will get to know your particular situation and suggest the best options for you at every turn.

Our team can even lend a helping hand as you begin your hunt for a new house. They can get you connected to Mr. Cooper® Agent Assurance, an organization of well-known, licensed real estate agents who assist with home buying and selling.. And if you'd rather search at your own pace, you can get started on the Mr. Cooper StreetSmarts site. It's the site to visit if you need to find a Longview home, monitor neighborhood trends, and set up Home Alerts so you don’t miss a thing. And guess what? If you choose to buy a house with a Mr. Cooper mortgage, we'll pay for your move (up to 50 miles).

But we're getting too deep into the weeds. You're interested in the home loan process in Washington. Why might a person need a home loan in the first place? A home loan makes the home buying experience easier! Depending on the situation, it can also offer tax advantages. In addition, 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 Longview and beyond.

Houses in Longview seem to move off the market just as fast as they come on, and you will likely want to act fast — even more so if you found a house you can't live without. We get it! Here is a summary of the essential steps when applying for a mortgage in Longview

Start by thinking about how long you'll be in your new home. Are you just passing through Longview on your way to your forever home? Or will you be enjoying your golden years in this house? If you're going to be in the house for years and years, look into a fixed-rate loan. Your interest rate stays the same when you have a fixed-rate home loan. But if this home is going to be a quick stopover, look at an adjustable-rate mortgage in Longview. Adjustable-rate loans have a fixed rate for some time. After that date, the rate can adjust at specific intervals. Let your mortgage professional help you select the best loan program for your needs during prequalification.

After, follow your Longview lender's loan application process. Every lender has a somewhat different process. 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, banking details, and the amount of money you're looking 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: the loan estimate isn't your final Longview 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 Longview 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 borrow! This letter means a lot to home sellers and realtors because it shows you can buy 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 urges home shoppers to inquire 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.

Make Your Move with a Home Loan in Longview, WA

You're in control now! Analyze your mortgage offers and pick the one that's best 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. 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 Washington. Consider it a more formal version of your previous estimate. Feel free to ask questions if you see that there are differences between the first estimate and disclosure.

At Your Mortgage Closing in Longview, WA

Once your home loan is approved, it's go-time for buying your Longview house! During this step of the mortgage process, your closing attorney and broker come into the picture to sign off on the closing costs. Depending on where you live, you could be required to work with a Longview closing attorney. They'll book time with you to sign your loan documents. 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 reached the end of the home loan process in Longview, and it's time to roll out the welcome mat. You are a homeowner in Longview! Do the steps seem too simple? Contact Mr. Cooper today. We're on a mission to make the mortgage process in Longview super straightforward.

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