On Your Way Toward a New Home Loan in Long Beach, CA
Houses aren't one size fits all. Long Beach home loans aren’t either. Finding the right fit for you takes some shopping around! Mr. Cooper can help! Our aim is to transform the homeownership journey into an enjoyable one, starting with the loan process. We encourage you to continue reading for basic information about selecting a mortgage loan, but also reach out to 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 improve your score. 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 high credit score can help you secure a better rate with your potential lender. Your credit history, finances, and and the timeframe you'd like to make your move can all influence the loan type that aligns with your goals. So, what's out there to choose from?
What Home Loan Options Do I Have in Long Beach, CA?
There are several different types of home loans available to Long Beach 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.
VA loans and FHA loans fall into the government loan category. Income and credit requirements tend to have different 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 professional Mr. Cooper loan officer can help you get to know your options and what comes next, depending on your position in the process.
Start with a Preapproval Letter in Long Beach, CA
Get a Verified Approval Letter from your lender before you start shopping for homes in Long Beach 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. Give us a call today to chat about everything from your credit, possible loan options and your Verified Approval letter. It could be the perfect season for you to buy a new house in Long Beach. 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.