De Pere, WI Mortgage and Home Loan Process
Being a homeowner — it's an aspiration that unites us from coast to coast! And it's something that you can get help with from start to finish. If you find yourself wondering what the home loan process is like in De Pere, then keep reading and give Mr. Cooper a call. Our trained mortgage professionals will work alongside you and recommend the best loan options and terms for your circumstances.
Our crew 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 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. On the MLS site, you can compare De Pere 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 too deep into the weeds. You're here to learn more about moving in Wisconsin and the overall mortgage process. At a basic level, why do people get home loans? 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 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 De Pere and beyond.
The De Pere home market is a competitive one, and you'll want to take action quickly — especially if you've found your dream home. We know what that's like! Follow these important steps in the Wisconsin home loan process.
First, ask yourself: How long do you plan on living in this house? Is this a soon-to-be investment property? Or will you be enjoying your golden years in this house? If you plan on sticking around for a long time, you might consider a fixed-rate loan. 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 De Pere. Adjustable-rate loans have a fixed rate for some time. After that deadline, the rate can adjust at specific intervals. A mortgage professional can help you choose the right loan program during the prequalification phase.
Then, follow your De Pere lender's loan application process. The process varies from lender to lender. Usually, though, you'll need to give the following info: pay stubs, Social Security numbers, 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. The estimate includes your anticipated closing costs, monthly payment, and possible interest rate. Remember that your loan estimate doesn't mean you've been approved or denied for a mortgage in De Pere. 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 De Pere with Mr. Cooper and we'll provide you with a Verified Approval letter, which is an extremely accurate estimate. This letter shows home sellers and realtors you are a serious buyer. Not every lender offers Verified Approval letters as Mr. Cooper does.
Ask questions during 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.
Make Your Move with a Home Loan in De Pere, WI
The choice is up to you! Compare your mortgage offers and select 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 help you understand the pros and cons of each. Following your selection, your lender may approve your loan and send over a Closing Disclosure. It's a standard part of the home loan process, whether you live in De Pere or elsewhere. The Disclosure is more formal documentation of your first estimate. Feel free to ask questions if you see that there are differences between the first estimate and disclosure.
At Your Mortgage Closing in De Pere, WI
Once your home loan is approved by the lender, it's time to close on the home you want in De Pere! At this stage of the home loan process, your broker and closing attorney are brought into the loop to verify the closing costs. Depending on where you live, you could be required to work with a De Pere closing attorney. They'll book 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*.
You're in the home stretch once you've signed the documents! You've reached the end of the home loan process in De Pere, and it's time to celebrate. Your De Pere house is now your home! Does that all sound too easy? Call Mr. Cooper. We're on a mission to make the mortgage process in De Pere super straightforward.