Finding Your Fit, Finding Your Storrs Home Loan
Homes aren't one size fits all structures. Neither are home loans in Storrs. Getting the best fit for you requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our goal is to turn the homeownership journey into something that's less difficult and more enjoyable, starting 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 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 not-so-great credit score may mean you are presented with a higher interest rate on your loan. On the flip side, a higher credit rating can help you advocate for your best rate with a lender. Your credit history, financial state, and the timeline you're looking to 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 Storrs, CT?
There are several different types of home loans available to Storrs 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 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 are both types of 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 loan officer can help you understand your options and next steps, depending on your stage in the journey.
Start with a Preapproval Letter in Storrs, CT
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Storrs to demonstrate that you really do intend to buy. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. The letter can also carry more weight seller’s you’re serious about the home they’re selling. Contact a Mr. Cooper mortgage professional now to talk about all things loan-related! We'll walk through everything from your Verified Approval letter to your credit and loan options. Now could be the perfect time for you to buy a house in Storrs. 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.