Getting the Home Loan in Bridgeport, CT That's Best for You
A home isn't a one size fits all kind of thing. Neither are home loans in Bridgeport. Getting the best fit for you requires some loan-to-loan comparisons! That’s where Mr. Cooper can help. Our goal 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 selecting a mortgage loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
As you begin searching for home loans, double check your credit 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 advocate for your best rate with a lender. Your credit history, financial state, and the timeframe you wish to make your move can all be a factor in the type of loan that matches your needs. So, what's out there to choose from?
What Types of Loans Are There in Bridgeport, CT?
There are several different types of home loans available to Bridgeport 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 loans might be a good choice 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.
FHA loans and VA loans are both types of government loans. Income and credit requirements tend to have different criteria than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which home loan is right for you? A professional loan officer can help you understand your options and next steps, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Bridgeport, CT
Get a Verified Approval Letter from your lender before you start shopping for homes in Bridgeport to demonstrate that you've done your due diligence. 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. It can also show with the real estate agent and seller because they know you can afford the home. Give us a call today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. Now could be the perfect time for you to buy a house in Bridgeport. 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.