Getting the Home Loan in Fort Collins, CO That's Best for You
Houses aren't one size fits all. Fort Collins home loans aren’t either. Finding the right fit for you may require some comparison shopping! That’s where Mr. Cooper can help. Our aim is to keep the dream of homeownership alive starting with the mortgage loan process. We encourage you to continue reading for routine details about picking your Fort Collins 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 work to get it in tip-top shape. A not-so-great credit score might mean you are presented with a higher interest rate on your loan. On the flip side, a higher credit rating can help you secure a better rate with your potential lender. Your credit strength, financial situation, and the timeframe you'd like to make your move can all impact the type of home loan that fits your needs. So, what loans can you pick from?
Different Types of Home Loans in Fort Collins, CO
There are several different types of home loans available to Fort Collins 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 salary/wage 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. Which home loan is right for you? A trained loan officer can help you get to know your options and what comes next, depending on your position in the process.
Get a Preapproval Letter Before You Shop in Fort Collins, CO
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in Fort Collins to demonstrate that you're serious about buying a home. A Verified Approval Letter is evidence that the lender has reviewed your finances and has given you an estimate of how much you can buy. The letter can also carry more weight to sellers you can afford the home they’re selling. Give us a call today to discuss everything from your credit, possible loan options and your Verified Approval letter. Now could be the perfect time for you to buy a house in Fort Collins. 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.