Finding Your Fit, Finding Your Newington Home Loan
A home isn't a one size fits all kind of thing. The same can be said for home loans in Connecticut. Getting the best fit for you requires some loan-to-loan comparisons! Mr. Cooper can help! Our goal is to keep the dream of homeownership alive starting with the mortgage loan process. We hope you'll keep reading for introductory information about selecting a mortgage loan, but also call a Mr. Cooper mortgage expert with questions about your situation.
As you begin searching for home loans, double check your credit and try your best to get it in tip-top shape. A less-than-stellar credit score may 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 history, financial situation, and the timeline you'd like to make your move can all affect the loan type that aligns with your goals. So, what loans can you pick from?
What Home Loan Options Do I Have in Newington, CT?
There are several different types of home loans available to Newington home buyers: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loan could be a great route 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.
FHA loans and VA loans fall into the government loan category. Credit and income requirements tend to have different 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 compare loans and plan your next steps, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Newington, CT
Get a Verified Approval Letter from your lender before you start going to Open Houses in Newington to show that you've done your due diligence. 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 to sellers you can afford the home they’re selling. Give us a call today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. It could be the perfect season for you to buy a new house in Newington. Get started with the help you need!
- 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.