On Your Way Toward a New Home Loan in Rome, GA
Houses aren't one size fits all. The same can be said for home loans in Georgia. Finding the right fit for you may require some comparison shopping! 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 encourage you to continue reading for introductory information about finding a home loan, but also contact a Mr. Cooper mortgage expert with questions about your situation.
Check your credit before you start applying for loans and try your best to improve your score. A low credit score may 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 situation, and the timeline you're looking to move can all affect the type of loan that matches your needs. So, what loans can you pick from?
Different Types of Home Loans in Rome, GA
There are several different types of home loans available to Rome home buyers: 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.
VA and FHA loans fall into the government loan category. Credit and salary/wage requirements are usually a little more different criteria than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which home loan is right for you? A professional Mr. Cooper loan officer can help you compare loans and plan your next steps, depending on your stage in the journey.
Begin in Rome, GA with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in Rome to demonstrate that you're a serious buyer. 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. It can also speed up with the real estate agent and seller because they know you can afford the home. Give us a call today to chat about 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 Rome. 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.