Getting the Home Loan in Ridgecrest, CA That's Best for You
Houses aren't one size fits all. Neither are home loans in Ridgecrest. Getting the best 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, beginning with the mortgage loan process. We encourage you to read on for introductory details about picking your Ridgecrest home loan, but also call a Mr. Cooper mortgage professional for any questions you may have.
As you begin searching for home loans, double check your credit and work to get it in tip-top shape. A low credit score might mean you'll have a higher interest rate on your mortgage loan. On the flip side, a high credit score can help you advocate for your best rate with a lender. Your credit history, finances, and and the timing in which you'd like to make your move can all impact the type of loan that matches your needs. So, what loans can you pick from?
Different Types of Home Loans in Ridgecrest, CA
Ridgecrest 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 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 are both types of government loans. Credit and salary/wage requirements tend to have laid-back 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 professional loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Start with a Preapproval Letter in Ridgecrest, CA
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in Ridgecrest to indicate 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 Verified Approval letter to your credit and loan options. Now could be the perfect time for you to buy a house in Ridgecrest. 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.