Getting the Home Loan in Fayetteville, GA That's Best for You
A home isn't a one size fits all kind of thing. Neither are home loans in Fayetteville. Getting the best fit for you takes some shopping around! That's where Mr. Cooper comes in. Our aim is to keep the dream of homeownership alive beginning with the mortgage loan process. We hope you'll keep reading for basic details about picking your Fayetteville home loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
As you start looking for loans, check your credit and try your best to improve your score. A less-than-stellar credit score might mean you end up with a higher interest rate on your home loan. On the other hand, a strong credit score can help you secure a better rate with your potential lender. Your credit strength, finances, and and the timeline you wish to make your move can all impact the type of loan that matches your needs. So, what options are out there for you?
Different Types of Home Loans in Fayetteville, GA
Fayetteville 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 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.
FHA and VA loans are both types of government loans. Income and credit requirements tend to have different 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 professional loan officer can help you get to know your options and what comes next, depending on your position in the process.
Start with a Preapproval Letter in Fayetteville, GA
Get a Verified Approval Letter from your lender before you begin looking for houses in Fayetteville to indicate 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 show with the real estate agent and seller because they’re know you can afford the home. Give us a call now to talk about all things loan-related! We'll walk through 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 Fayetteville. 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.