Getting the Home Loan in Lake Havasu City, AZ That's Best for You
A home isn't a one size fits all kind of thing. Neither are home loans in Lake Havasu City. Securing the correct fit for your needs requires some loan-to-loan comparisons! That’s where Mr. Cooper can help. Our mission is to transform the homeownership journey into an enjoyable one, starting with the mortgage loan process. We encourage you to continue reading for basic details about picking your Lake Havasu City home loan, but also contact a Mr. Cooper mortgage expert with questions about your situation.
As you start looking for loans, check your credit and work to get it in tip-top shape. A less-than-stellar credit score could mean you'll have a higher interest rate on your mortgage loan. On the other hand, a higher credit rating can help you negotiate your best rate with a potential lender. Your credit history, finances, and and the timeline you're looking to move can all impact the loan type that aligns with your goals. So, what loans can you pick from?
What Home Loan Options Do I Have in Lake Havasu City, AZ?
Lake Havasu City 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 loan could be a great route for you if you're ready to make a down payment of at least 3% (depending on your situation), your credit is healthy, and your income and employment history are stable.
VA and FHA loans fall into the government loan category. Credit and salary/wage requirements are often different criteria than conventional loans. And if you're a veteran, active-duty service member or surviving spouse, you may be eligible to apply for a VA new home loan. How do you know which home loan is the best for you? A professional loan officer can help you compare loans and plan your next steps, depending on your position in the process.
Begin in Lake Havasu City, AZ with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Lake Havasu City to demonstrate that you really do intend to buy. A Verified Approval Letter is proof that your finances have been reviewed by the lender, and you have an estimate of how much you can buy. It can also speed up with the real estate agent and seller because they know you can afford the home. Call the mortgage team at Mr. Cooper now to talk about all things loan-related! We'll walk through everything from your Verified Approval letter to your credit and loan options. Now is a great time for buying a home in Lake Havasu City. 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.