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Find a Home Loan in Decatur, AL

For all your Decatur home loan needs, call Mr. Cooper. We're your purchase and refinance partner in Alabama.

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Get Started on Your Decatur Home Loan Journey

Homes aren't one size fits all structures. Decatur home loans aren’t either. Securing the correct fit for your needs requires some loan-to-loan comparisons! Mr. Cooper can help! Our mission is to keep the dream of homeownership alive starting with the loan process. We encourage you to read on for general information about finding a home loan, but also call a Mr. Cooper mortgage professional for any questions you may have.

Check your credit before you start applying for loans and try your best to get it in tip-top shape. A not-so-great credit score might mean you are presented with a higher interest rate on your loan. On the flip side, a high credit score can help you secure a better rate with your potential lender. Your credit history, finances, and and the timeframe you wish to make your move can all be a factor in the type of home loan that fits your needs. So, what loans can you pick from?

Different Types of Home Loans in Decatur, AL

Decatur home buyers have more than one type of home loan to choose from. There are: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loans might be a good choice 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.

FHA loans and VA loans are both types of government loans. Credit and salary/wage requirements are usually a little more different criteria than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. Which home loan is right for you? A professional loan officer can help you get to know your options and what comes next, depending on your stage in the journey.

Start with a Preapproval Letter in Decatur, AL

Get a Verified Approval Letter from your lender before you begin looking for houses in Decatur to demonstrate that you're a serious buyer. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. It can also show seller’s you’re serious about the home they’re selling. Contact a Mr. Cooper mortgage professional today to chat about everything from your Verified Approval letter to your credit and loan options. It could be the perfect season for you to buy a new house in Decatur. Get started with the help you need!

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