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Get to Know the Mortgage Process in Tukwila, WA

Whether you're buying your first home in Tukwila 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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Tukwila, WA: A Home Loan Process That's Unique to You

Living in a house that's yours, all yours — it's a wish that unifies all kinds of people! And it's an endeavor that you can get help with from beginning to end. If you find yourself wondering what the home loan process is like in Tukwila, then keep reading and give Mr. Cooper a call. 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 you out as you begin your hunt for a new house. They can get you started with Mr. Cooper® Agent Assurance, a large group of industry-respected real estate agents who know home sales inside and out. And if you'd rather search at your own pace, you can get started on the Mr. Cooper StreetSmarts site. On the MLS site, you can compare Tukwila homes, check your home’s value, and set up Home Alerts to find your dream home. And get this — if you buy a home with a Mr. Cooper mortgage, we'll pay for your move (up to 50 miles).

But we're getting ahead of ourselves. You're here to learn more about moving in Washington and the overall mortgage process. Why do people need home loans to begin with? A home loan makes it so much easier to buy a house and can also offer tax benefits in some situations. 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. This information applies whether you're going through the home loan preparation process in Tukwila or anywhere else.   How to Apply for a Home Loan in Tukwila, WA   Steps to Complete the Mortgage Process in Tukwila, WA How to Apply for a Mortgage in Tukwila, WA

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

Start by thinking about how long you'll be in your new home. Is this a soon-to-be investment property? Or will you be planting some deep roots in Tukwila? If you plan on sticking around for a long time, you might consider a fixed-rate loan. Your interest rate stays the same when you have a fixed-rate home loan. But if you're planning on being in and out fast, then you might want to go the adjustable-rate route for your Tukwila mortgage. Your interest rate is only fixed for a certain amount of time with an adjustable-rate loan. 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, complete your WA lender's loan application process. The process varies from lender to lender. Still, in general, you'll need to provide the following information: 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.

Next up? A loan estimate from your lender! 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 Tukwila. 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 Tukwila 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 shows home sellers and realtors you are a serious buyer. Some lenders offer Verified Approval letters like Mr. Cooper, but not all.

Just ask! It's normal to have questions about the home loan process. 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 Tukwila, WA

The choice is up to you! Compare your mortgage offers and select the option that's right for you. Think about the nuances of each, from the loan term to the interest rate. A Mr. Cooper mortgage professional can help you evaluate the pros and cons of each. Once you confirm your choice with the lender, they might approve your loan and send a Closing Disclosure. The Closing Disclosure is a normal part of the mortgage process, no matter where you live in Washington. The Disclosure is more formal documentation of your first 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 Tukwila, WA

Once your home loan is approved by the lender, it's time to close on the home you want in Tukwila! 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 could be required to work with a Tukwila 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*.

You're in the home stretch once you've signed the documents! You've completed the mortgage process in Tukwila, and it's time to get your keys. Your Tukwila house is now your home! 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 Tukwila a super easy one.

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Simplify the home buying process in Tukwila with Mr. Cooper.

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