Getting the Home Loan in Cerritos, CA That's Best for You
Houses aren't one size fits all. Neither are home loans in Cerritos. Finding the right fit for you requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our mission is to keep the dream of homeownership alive starting with the mortgage loan process. We hope you'll keep reading for general information about finding a home loan, but also reach out to Mr. Cooper professional with any mortgage questions you might have.
As you begin searching for home loans, double check your credit and try your best to get it in tip-top shape. A not-so-great credit score could mean you end up with a higher interest rate on your home loan. On the other hand, a high credit score can help you advocate for your best rate with a lender. Your credit history, financial situation, and the timeline you wish to make your move can all affect the type of home loan that fits your needs. So, what loans can you pick from?
What Types of Loans Are There in Cerritos, CA?
There are several different types of home loans available to Cerritos 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 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 fall into the government loan category. Credit and income requirements are often laid-back than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which home loan is right for you? A trained loan officer can help you compare loans and plan your next steps, depending on your stage in the journey.
Begin in Cerritos, CA with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Cerritos to indicate 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 to sellers you can afford the home they’re selling. Give us a call 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. Now is a great time for buying a home in Cerritos. 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.