Finding Your Fit, Finding Your Athens Home Loan
Homes aren't one size fits all structures. The same can be said for home loans in Alabama. Getting the best fit for you takes some shopping around! That's where Mr. Cooper comes in. Our mission is to transform the homeownership journey into an enjoyable one, starting with the loan process. We encourage you to continue reading for routine details about picking your Athens home loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
As you start looking for loans, check your credit and try your best to improve your score. A less-than-stellar credit score might mean you are presented with a higher interest rate on your loan. On the other hand, a higher credit rating can help you secure a better rate with your potential lender. Your credit strength, financial situation, and the timeline you'd like to make your move can all influence the type of loan that matches your needs. So, what loans can you pick from?
What Types of Loans Are There in Athens, AL?
Athens home buyers have more than one type of home loan to choose from. There are: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loan could be a great route for you if your income and employment history are stable, your credit is healthy, and you're going to make a down payment of at least 3% depending on your situation.
VA loans and FHA loans fall into the government loan category. Credit and salary/wage requirements are usually a little more different criteria than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A professional Mr. Cooper loan officer can help you understand your options and next steps, depending on your position in the process.
Begin in Athens, AL with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start shopping for homes in Athens to demonstrate that you're serious about buying a home. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. The letter can also carry more weight with the real estate agent and seller because they know you can afford the home. Call the mortgage team at Mr. Cooper today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in Athens. What are you waiting for? Get started with the help you need!
- This is not a commitment to lend. All loans are subject to credit and property approval. This offer is nontransferable and may not be combined with any other mortgage offer. Advertised offer is subject to change. If a personal code is present on the advertised offer, you must provide such code to claim the offer. We may gather information about you including, but not limited to, credit bureau information, information for verification of income, information for appraisal and verification of property being used for collateral. We also verify your identity. Income, assets, and debt must meet eligibility requirements as established by Government and/or Lender guidelines.