Get Started on Your Santa Clarita Home Loan Journey
Houses aren't one size fits all. Neither are home loans in Santa Clarita. Securing the correct fit for your needs takes some shopping around! That's where Mr. Cooper comes in. Our mission is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to read on for general information about selecting a mortgage loan, but also call a Mr. Cooper mortgage expert with questions about your situation.
As you begin searching for home loans, double check your credit and try your best to get it in tip-top shape. A less-than-stellar credit score might mean you'll have a higher interest rate on your mortgage loan. On the other hand, a higher credit rating can help you secure a better rate with your potential lender. Your credit history, financial state, and the timeline you wish to make your move can all affect the type of loan that matches your needs. So, what loans can you pick from?
What Types of Loans Are There in Santa Clarita, CA?
There are several different types of home loans available to Santa Clarita 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 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.
VA and FHA loans fall into the government loan category. Credit and income requirements tend to have 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. Which home loan is right for you? A loan officer can help you get to know your options and what comes next, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Santa Clarita, CA
Secure a Verified Approval Letter from the lender before you start shopping for homes in Santa Clarita to indicate that you're a serious buyer. 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 show to sellers you can afford the home they’re selling. Contact a Mr. Cooper mortgage professional 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 Santa Clarita. 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.