On Your Way Toward a New Home Loan in Erie, CO
A home isn't a one size fits all kind of thing. The same can be said for home loans in Colorado. Getting the best fit for you requires some loan-to-loan comparisons! That’s where Mr. Cooper can help. Our mission is to transform the homeownership journey into an enjoyable one, starting with the loan process. We encourage you to continue reading for basic information about finding a home loan, but also reach out to Mr. Cooper mortgage expert with questions about your situation.
As you start looking for loans, check your credit and work to get it in tip-top shape. A not-so-great credit score could 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 strength, financial situation, and the timing in which you're looking to move can all influence the type of loan that matches your needs. So, what loans can you pick from?
Different Types of Home Loans in Erie, CO
Erie home buyers have more than one type of home loan to choose from. There are: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loans might be a good choice 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 and FHA loans are both types of government loans. Income and credit requirements are often different than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which one of these home loans is a good fit 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 Erie, CO
Secure a Verified Approval Letter from the lender before you start shopping for homes in Erie to demonstrate that you're a serious buyer. 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 show with the real estate agent and seller because they know you can afford the home. Contact a Mr. Cooper mortgage professional today to chat about 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 Erie. 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.