Getting the Home Loan in New Canaan, CT That's Best for You
Houses aren't one size fits all. New Canaan home loans aren’t either. Finding the right fit for you takes some shopping around! Mr. Cooper can help! Our mission is to turn the homeownership journey into something that's less difficult and more enjoyable, beginning with the mortgage loan process. We encourage you to continue reading for general information about finding a home loan, but also reach out to 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 get it in tip-top shape. A not-so-great credit score might mean you'll have a higher interest rate on your mortgage loan. On the other hand, a higher credit rating can help you advocate for your best rate with a lender. Your credit strength, finances, and and the timing in which you'd like to make your move can all impact the type of loan that matches your needs. So, what loans can you pick from?
Different Types of Home Loans in New Canaan, CT
There are several different types of home loans available to New Canaan 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 are both classified as government loans. Credit and income requirements tend to have different criteria 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 get to know your options and what comes next, depending on your stage in the journey.
Begin in New Canaan, CT with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in New Canaan to show that you're a serious buyer. 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 show with the real estate agent and seller because they know you can afford the home. Contact a Mr. Cooper mortgage professional today to chat about 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 New Canaan. Call now to get the super-smart help you want!
- 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.