Get Started on Your Modesto Home Loan Journey
Houses aren't one size fits all. The same can be said for home loans in California. Securing the correct fit for your needs may require some comparison shopping! That’s where 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 encourage you to read on for general information about selecting a mortgage loan, but also contact a 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 low credit score may mean you end up with a higher interest rate on your home loan. On the flip side, a high credit score can help you advocate for your best rate with a lender. Your credit score, finances, and and the timeframe you'd like to make your move can all affect the type of home loan that fits your needs. So, what's out there to choose from?
What Home Loan Options Do I Have in Modesto, CA?
There are several different types of home loans available to Modesto home buyers: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). A conventional loan could be a great route 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 and FHA loans are both classified as government loans. Credit and income 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 loan officer can help you compare loans and plan your next steps, depending on your stage in the journey.
Begin in Modesto, CA with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Modesto to show 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 speed up 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 potential loan options, credit score, and your Verified Approval letter. It could be the perfect season for you to buy a new house in Modesto. 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.