The Right Way to Start Your Green Bay, WI Mortgage Process
Being a homeowner — it's an ambition that unites us from coast to coast! And it's an endeavor that you can get assistance with along the way. Keep reading and give Mr. Cooper a call if you're curious about the home loan process in Green Bay, WI. Our trained mortgage professionals will work alongside you to identify the best loan options and terms for your circumstances.
From your initial Green Bay loan search to prequalification to closing, we're here to help you make your move in Wisconsin! can even lend a helping hand as you start your house hunt. 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're more of a DIY-er, you can browse homes on Mr. Cooper StreetSmarts. Here, you can search for a home in Green Bay, monitor neighborhood trends, and set up Home Alerts so you don’t miss your dream home. 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).
Before we get too far down the rabbit hole… You're here to learn more about moving in Wisconsin and the overall mortgage process. Why do people need home loans to begin with? A home loan helps you buy a house sooner than you might otherwise be able. In some situations, it can also offer tax perks. Plus, 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 Green Bay and beyond.
The Green Bay real estate scene is a busy one, and you will likely want to act fast — especially if you've found your dream home. We get it! Here is a summary of the essential steps when applying for a mortgage in Green Bay
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 will you be planting some deep roots in Green Bay? You might consider a fixed-rate loan if you plan on staying in the house for the long-term. 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 Green Bay. Your interest rate is only fixed for a certain amount of time with an adjustable-rate loan. After that deadline, 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, submit your Green Bay lender's home loan application. Every lender has a somewhat different process. Usually, though, you'll need to provide the following information: Social Security numbers, pay stubs, income sources, the address of the house you'd like to buy, purchase contract, credit check authorization, banking information, and the amount you'd like 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: your loan estimate doesn't mean you've been approved or denied for a mortgage in Green Bay. 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 Green Bay and we'll review your information and provide you with a Verified Approval letter, which is a very accurate estimate of what you could afford. This letter carries weight with realtors and home sellers because it shows you are serious and can afford a home. 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 additional fees, the loan's annual percentage rate, any special programs, and whether the quoted rate is the lowest for the week or day.
The Final Step for a Home Mortgage in Green Bay, WI
The choice is up to you! Review your mortgage offers and choose the offer that's good 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 benefits and drawbacks of each. Once you confirm your choice with the lender, they might approve your loan and send a Closing Disclosure. It's a standard part of the home loan process, whether you live in Green Bay or elsewhere. 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.
At Your Mortgage Closing in Green Bay, WI
Once your home loan is approved, it's go-time for buying your Green Bay house! 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 your state, you may also be required to work with a closing attorney in Green Bay who will schedule a 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*.
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 Green Bay, and it's time to get your keys. You're the proud owner of a house (or apartment or condo or townhome!) in Green Bay. Do the steps seem too simple? Contact Mr. Cooper today. We strive to make the Green Bay mortgage process an easy one.