On Your Way Toward a New Home Loan in Guilford, CT
Homes aren't one size fits all structures. The same can be said for home loans in Connecticut. Securing the correct fit for your needs may require some comparison shopping! Mr. Cooper can help! Our goal is to turn the homeownership journey into something that's less difficult and more enjoyable, beginning with the mortgage loan process. We hope you'll keep reading for basic details about picking your Guilford home loan, but also call a Mr. Cooper mortgage expert with questions about your situation.
Check your credit before you start applying for loans and try your best to improve your score. A poor credit rating could mean you are presented with a higher interest rate on your loan. On the other hand, a strong credit score can help you negotiate your best rate with a potential lender. Your credit score, financial situation, and the timing in which you're looking to move can all be a factor in the type of loan that matches your needs. So, what's out there to choose from?
What Home Loan Options Do I Have in Guilford, CT?
There are several different types of home loans available to Guilford home buyers: 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 your credit is healthy, your income and employment history are stable, and you're ready to make a down payment of as little as 3% depending on your situation.
VA and FHA loans fall into the government loan category. Credit and salary/wage requirements tend to have laid-back 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 professional loan officer can help you understand your options and next steps, depending on where you are on your journey.
Begin in Guilford, CT with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start shopping for homes in Guilford to show that you're serious about buying a home. 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. The letter can also carry more weight to sellers you can afford the home they’re selling. Call the mortgage team at Mr. Cooper 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 Guilford. 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.