On Your Way Toward a New Home Loan in Shafter, CA
Houses aren't one size fits all. The same can be said for home loans in California. Getting the best fit for you may require some comparison shopping! That's where Mr. Cooper comes in. Our aim is to keep the dream of homeownership alive beginning with the mortgage loan process. We hope you'll keep reading for introductory details about picking your Shafter home loan, but also call 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 poor credit rating might mean you'll have a higher interest rate on your mortgage loan. On the flip side, a strong credit score can help you secure a better rate with your potential lender. Your credit score, financial state, and the timing in which you wish to make your move can all affect the type of home loan that fits your needs. So, what options are out there for you?
What Home Loan Options Do I Have in Shafter, CA?
Shafter 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 loans might be a good choice for you if your credit is healthy, your income and employment history are stable, and you're ready to make a down payment of as little as 3% depending on your situation.
FHA loans and VA loans are both types of government loans. Credit and income requirements are usually a little more different than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A loan officer can help you compare loans and plan your next steps, depending on your position in the process.
Start with a Preapproval Letter in Shafter, CA
Secure a Verified Approval Letter from the lender before you begin looking for houses in Shafter 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. It can also speed up with the real estate agent and seller because they’re know you can afford the home. Call the mortgage team at Mr. Cooper 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 Shafter. 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.