Finding Your Fit, Finding Your Riverside Home Loan
A home isn't a one size fits all kind of thing. Riverside home loans aren’t either. Getting the best fit for you takes some shopping around! That's where Mr. Cooper comes in. Our goal is to keep the dream of homeownership alive starting with the loan process. We hope you'll keep reading for routine details about picking your Riverside home loan, but also call a Mr. Cooper mortgage expert with questions about your situation.
Check your credit before you start applying for loans and try your best to improve your score. A low credit score could mean you are presented with a higher interest rate on your loan. On the other hand, a strong credit score can help you advocate for your best rate with a lender. Your credit strength, finances, and and the timeline you'd like to make your move can all affect the type of loan that matches your needs. So, what options are out there for you?
What Types of Loans Are There in Riverside, CA?
There are several different types of home loans available to Riverside home buyers: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loan may be the perfect option 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. Credit and salary/wage requirements are often different 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 understand your options and next steps, depending on your position in the process.
Start with a Preapproval Letter in Riverside, CA
Get a Verified Approval Letter from your lender before you start going to Open Houses in Riverside to show 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. The letter can also carry more weight to sellers you can afford the home they’re selling. Contact a Mr. Cooper mortgage professional today to chat about 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 Riverside. 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.