On Your Way Toward a New Home Loan in Fairburn, GA
A home isn't a one size fits all kind of thing. Neither are home loans in Fairburn. Securing the correct fit for your needs may require some comparison shopping! Mr. Cooper can help! 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 read on for general information about selecting a mortgage loan, but also reach out to Mr. Cooper mortgage professional for any questions you may 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 end up with a higher interest rate on your home loan. On the flip side, a higher credit rating can help you negotiate your best rate with a potential lender. Your credit history, financial situation, and the timing in which you're looking to move can all be a factor in the loan type that aligns with your goals. So, what's out there to choose from?
Different Types of Home Loans in Fairburn, GA
Fairburn 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 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.
VA and FHA loans fall into the government loan category. Credit and income requirements tend to have laid-back 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 trained loan officer can help you compare loans and plan your next steps, depending on where you are on your journey.
Start with a Preapproval Letter in Fairburn, GA
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Fairburn to demonstrate that you really do intend to buy. 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. The letter can also carry more weight to sellers you can afford the home they’re selling. Give us a call today to discuss everything from your credit, possible loan options and your Verified Approval letter. It could be the perfect season for you to buy a new house in Fairburn. 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.