Get Started on Your Beverly Hills Home Loan Journey
Homes aren't one size fits all structures. Beverly Hills home loans aren’t either. Finding the right fit for you takes some shopping around! That’s where Mr. Cooper can help. Our goal is to transform the homeownership journey into an enjoyable one, starting 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 start looking for loans, check your credit and try your best to get it in tip-top shape. A low credit score might mean you end up with a higher interest rate on your home loan. On the other hand, a higher credit rating can help you advocate for your best rate with a lender. Your credit strength, finances, and and the timeline 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 Beverly Hills, CA
There are several different types of home loans available to Beverly Hills home buyers: 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.
FHA and VA loans fall into the government loan category. Credit and income 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. How do you know which home loan is the best 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 Beverly Hills, CA with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Beverly Hills to show that you're a serious buyer. 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’re know you can afford the home. Call the mortgage team at Mr. Cooper today to chat about everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in Beverly Hills. 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.