On Your Way Toward a New Home Loan in Denver, CO
Homes aren't one size fits all structures. Denver home loans aren’t either. Finding the right fit for you takes some shopping around! That’s where Mr. Cooper can help. Our goal is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to continue reading for introductory information about finding a home loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
Check your credit before you start applying for loans and try your best to improve your score. A less-than-stellar credit score might mean you'll have a higher interest rate on your mortgage loan. On the flip side, a strong credit score can help you negotiate your best rate with a potential lender. Your credit history, financial situation, and the timeframe you're looking to move can all be a factor in the type of home loan that fits your needs. So, what options are out there for you?
What Types of Loans Are There in Denver, CO?
Denver home buyers have more than one type of home loan to choose from. There are: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). 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 are both types of government loans. Income and credit requirements tend to have 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 understand your options and next steps, depending on your position in the process.
Begin in Denver, CO with a Preapproval Letter
Get a Verified Approval Letter from your lender before you start shopping for homes in Denver to show that you really do intend to buy. 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 seller’s you’re serious about the home they’re selling. Contact a Mr. Cooper mortgage professional today to chat about everything from your credit, possible loan options and your Verified Approval letter. Now is a great time for buying a home in Denver. What are you waiting for? 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.