Get Started on Your Simi Valley Home Loan Journey
Houses aren't one size fits all. The same can be said for home loans in California. Finding the right fit for you takes some shopping around! 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 continue reading for routine information about finding a home loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
As you begin searching for home loans, double check your credit and try your best to improve your score. A not-so-great credit score might mean you are presented with a higher interest rate on your loan. On the flip side, a high credit score can help you advocate for your best rate with a lender. Your credit score, finances, and and the timing in which you wish to make your move can all influence the loan type that aligns with your goals. So, what's out there to choose from?
What Home Loan Options Do I Have in Simi Valley, CA?
You may have options when it comes to Simi Valley home loans: 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 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 usually a little more different criteria than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which home loan is right for you? A professional Mr. Cooper 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 Simi Valley, CA
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Simi Valley 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 Simi Valley. 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.