Getting the Home Loan in Athens, GA That's Best for You
Homes aren't one size fits all structures. Neither are home loans in Athens. Getting the best 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, starting with the mortgage loan process. We hope you'll keep reading for general information about selecting a mortgage loan, but also contact a Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and try your best to improve your score. A poor credit rating could mean you end up with a higher interest rate on your home loan. On the other hand, a high credit score can help you advocate for your best rate with a lender. Your credit strength, financial state, and the timeframe you wish 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 Athens, GA?
Athens home buyers have more than one type of home loan to choose from. There are: 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 your income and employment history are stable, your credit is healthy, and you're going to make a down payment of at least 3% depending on your situation.
VA loans and FHA loans are both classified as government loans. Credit and salary/wage requirements tend to have different criteria than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A professional Mr. Cooper loan officer can help you get to know your options and what comes next, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Athens, GA
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Athens 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 seller’s you’re serious about the home they’re selling. Contact a Mr. Cooper mortgage professional today to discuss everything from your Verified Approval letter to your credit and loan options. It could be the perfect season for you to buy a new house in Athens. 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.