Finding Your Fit, Finding Your Pheonix Home Loan
Houses aren't one size fits all. The same can be said for home loans in Arizona. Getting the best fit for you requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our mission is to transform the homeownership journey into an enjoyable one, beginning with the mortgage loan process. We encourage you to continue reading for general information about selecting a mortgage loan, but also contact a Mr. Cooper mortgage professional for any questions you may have.
As you begin searching for home loans, double check your credit and try your best to get it in tip-top shape. A less-than-stellar credit score may mean you end up with a higher interest rate on your home loan. On the other hand, a strong credit score can help you secure a better rate with your potential lender. Your credit strength, financial situation, and the timing in which you wish to make your move can all affect the type of home loan that fits your needs. So, what's out there to choose from?
Different Types of Home Loans in Pheonix, AZ
You may have options when it comes to Pheonix home loans: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loans might be a good choice for you if your credit is healthy, your income and employment history are stable, and you're ready to make a down payment of as little as 3% depending on your situation.
FHA and VA loans fall into the government loan category. Income and credit requirements tend to have different criteria than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which one of these home loans is a good fit for you? A trained loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Begin in Pheonix, AZ with a Preapproval Letter
Get a Verified Approval Letter from your lender before you start going to Open Houses in Pheonix to indicate that you really do intend to buy. 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 speed up to sellers you can afford the home they’re selling. Call the mortgage team at Mr. Cooper now to talk about all things loan-related! We'll walk through everything from your potential loan options, credit score, and your Verified Approval letter. It could be the perfect season for you to buy a new house in Pheonix. Call now to get the super-smart help you want!
- 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.