Finding Your Fit, Finding Your Macon Home Loan
A home isn't a one size fits all kind of thing. Macon home loans aren’t either. Securing the correct fit for your needs takes some shopping around! That's where Mr. Cooper comes in. Our aim 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 basic information about finding a home loan, but also reach out to Mr. Cooper professional with any mortgage questions you might have.
As you start looking for loans, check your credit and try your best to get it in tip-top shape. A low credit score could mean you end up with a higher interest rate on your home loan. On the flip side, a high credit score can help you negotiate your best rate with a potential lender. Your credit history, finances, and and the timeline you're looking to move can all be a factor in the type of loan that matches your needs. So, what's out there to choose from?
What Types of Loans Are There in Macon, GA?
There are several different types of home loans available to Macon home buyers: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). A conventional loan may be the perfect option for you if you're ready to make a down payment of at least 3% (depending on your situation), your credit is healthy, and your income and employment history are stable.
VA loans and FHA loans fall into the government loan category. Credit and salary/wage requirements tend to have 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 professional Mr. Cooper loan officer can help you compare loans and plan your next steps, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Macon, GA
Talk to your lender about a Verified Approval Letter. Get one before you start going to Open Houses in Macon to indicate that you're serious about buying a home. 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. Call the mortgage team at Mr. Cooper now to talk about all things loan-related! We'll walk through 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 Macon. 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.