Get Started on Your Grand Junction Home Loan Journey
A home isn't a one size fits all kind of thing. Neither are home loans in Grand Junction. Securing the correct fit for your needs takes some shopping around! 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 read on for basic details about picking your Grand Junction 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 low credit score could mean you'll have a higher interest rate on your mortgage loan. On the flip side, a higher credit rating can help you secure a better rate with your potential lender. Your credit history, financial state, and the timeframe you're looking to move can all affect the type of home loan that fits your needs. So, what loans can you pick from?
Different Types of Home Loans in Grand Junction, CO
There are several different types of home loans available to Grand Junction home buyers: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loan could be a great route 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 classified as government loans. Credit and income requirements are usually a little more different than conventional loans. And if you're a veteran, active-duty service member or surviving spouse, you may be eligible to apply for a VA new home loan. Which one of these home loans is a good fit for you? A loan officer can help you get to know your options and what comes next, depending on your stage in the journey.
Begin in Grand Junction, CO with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start shopping for homes in Grand Junction 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 speed up to sellers you can buy the home they’re selling. Contact a Mr. Cooper mortgage professional now to talk about all things loan-related! We'll walk through everything from your credit, possible loan options and your Verified Approval letter. Now is a great time for buying a home in Grand Junction. What are you waiting for? 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.