Getting the Home Loan in North Highlands, CA That's Best for You
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! That’s where 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 read on for general information about selecting a mortgage loan, but also contact a Mr. Cooper mortgage expert with questions about your situation.
As you start looking for loans, check your credit and try your best to improve your score. A less-than-stellar credit score could mean you end up with a higher interest rate on your home loan. On the flip side, a higher credit rating can help you advocate for your best rate with a lender. Your credit strength, finances, and and the timing in which you wish to make your move can all impact the loan type that aligns with your goals. So, what loans can you pick from?
What Types of Loans Are There in North Highlands, CA?
North Highlands home buyers have more than one type of home loan to choose from. There are: 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 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 and VA loans fall into the government loan category. Income and credit requirements are often different than conventional loans. And if you're a veteran, active-duty service member or surviving spouse, you may be eligible to apply for a VA new home loan. How do you know which home loan is the best for you? A professional loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in North Highlands, CA
Secure a Verified Approval Letter from the lender before you start shopping for homes in North Highlands to demonstrate that you've done your due diligence. 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. Give us a call today to discuss 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 North Highlands. 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.