Finding Your Fit, Finding Your Clovis Home Loan
A home isn't a one size fits all kind of thing. The same can be said for home loans in California. Finding the right fit for you takes some shopping around! Mr. Cooper can help! Our mission is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the mortgage loan process. We hope you'll keep reading for basic details about picking your Clovis 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 work to get it in tip-top shape. A poor credit rating might mean you are presented with a higher interest rate on your loan. On the flip side, a higher credit rating can help you negotiate your best rate with a potential lender. Your credit history, financial situation, and the timeframe you wish to make your move can all affect the type of loan that matches your needs. So, what options are out there for you?
What Types of Loans Are There in Clovis, CA?
Clovis 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 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.
VA loans and FHA loans fall into the government loan category. Credit and salary/wage requirements tend to have 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 loan officer can help you understand your options and next steps, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Clovis, CA
Secure a Verified Approval Letter from the lender before you start shopping for homes in Clovis to indicate 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. The letter can also carry more weight seller’s you’re serious about the home they’re selling. Give us a call today to discuss everything from your credit, possible loan options and your Verified Approval letter. Now could be the perfect time for you to buy a house in Clovis. 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.