Getting the Home Loan in Cocoa, FL That's Best for You
A home isn't a one size fits all kind of thing. Cocoa home loans aren’t either. Getting the best fit for you requires some loan-to-loan comparisons! Mr. Cooper can help! Our goal is to transform the homeownership journey into an enjoyable one, starting with the mortgage loan process. We encourage you to continue reading for basic details about picking your Cocoa home loan, but also call a Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and work to get it in tip-top shape. A poor credit rating may mean you'll have a higher interest rate on your mortgage loan. On the other hand, a high credit score can help you negotiate your best rate with a potential lender. Your credit score, financial situation, and the timeframe you'd like to make your move can all impact the loan type that aligns with your goals. So, what options are out there for you?
What Home Loan Options Do I Have in Cocoa, FL?
Cocoa home buyers have more than one type of home loan to choose from. There are: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. 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.
FHA and VA loans are both classified as government loans. Credit and salary/wage requirements are usually a little more laid-back than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which one of these home loans is a good fit for you? A 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 Cocoa, FL
Secure a Verified Approval Letter from the lender before you begin looking for houses in Cocoa to show that you're a serious buyer. 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 speed up seller’s you’re serious about the home they’re selling. Call the mortgage team at Mr. Cooper 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 Cocoa. 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.