Finding Your Fit, Finding Your Lincoln Home Loan
A home isn't a one size fits all kind of thing. Lincoln home loans aren’t either. Securing the correct fit for your needs may require some comparison shopping! That’s where Mr. Cooper can help. Our aim is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to read on for general details about picking your Lincoln home loan, but also reach out to Mr. Cooper mortgage professional for any questions you may have.
As you start looking for loans, check your credit and try your best to improve your score. A not-so-great credit score could mean you are presented with a higher interest rate on your loan. On the flip side, a strong credit score can help you negotiate your best rate with a potential lender. Your credit history, financial situation, and the timing in which you'd like to make your move can all be a factor in the type of home loan that fits your needs. So, what's out there to choose from?
Different Types of Home Loans in Lincoln, CA
Lincoln home buyers have more than one type of home loan to choose from. There are: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline 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 loans and VA loans are both types of government loans. Credit and salary/wage requirements are often laid-back 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 loan officer can help you get to know your options and what comes next, depending on your stage in the journey.
Begin in Lincoln, CA with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Lincoln to demonstrate that you're serious about buying a home. 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 show seller’s you’re serious about 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 Verified Approval letter to your credit and loan options. It could be the perfect season for you to buy a new house in Lincoln. See how we can help you navigate your next home-buying experience!
- 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.