Finding Your Fit, Finding Your Sterling Home Loan
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 aim is to transform the homeownership journey into an enjoyable one, starting with the loan process. We hope you'll keep reading for routine information about finding a home loan, but also call a Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and try your best to get it in tip-top shape. A poor credit rating may mean you are presented with a higher interest rate on your loan. On the other hand, a higher credit rating can help you negotiate your best rate with a potential lender. Your credit score, financial state, and the timeline you'd like to make your move can all affect the type of home loan that fits your needs. So, what options are out there for you?
What Types of Loans Are There in Sterling, CO?
You may have options when it comes to Sterling home loans: 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 loans and FHA loans are both classified as government loans. Income and credit requirements are usually a little more laid-back 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 professional loan officer can help you understand your options and next steps, depending on where you are on your journey.
Begin in Sterling, CO with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Sterling to demonstrate that you're serious about buying a home. 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 speed up 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. It could be the perfect season for you to buy a new house in Sterling. 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.