Types of Mr. Cooper Home Loans in Aurora, IL
Mr. Cooper is here to walk alongside you in your homeownership journey in Aurora, IL. As a top-20 home lender and the third-largest home loan servicer in the country, we have the training and expertise to help you navigate your loan options and chart a path for home buying success.
Work with a Mr. Cooper mortgage professional and you can get a customized strategy for approaching your home loan journey — one that will help you walk confidently. We can help you understand what today's mortgage rates are in Aurora, how much house you can afford, and also get prequalified for a mortgage in Aurora. Our mortgage professionals get to know your unique financial and living situation to come up with a strategic plan for securing the best mortgage for your needs. Keep reading to learn more about different home mortgages and contact a Mr. Cooper mortgage professional in Aurora to get started. You could prequalify for a mortgage in no time. Get Started
Are You Eligible for an FHA Loan in Aurora, IL?
A Federal Housing Administration (FHA) loan may be a good option for you if you’re looking for a loan with flexible credit requirements and a potentially lower down payment. This government-insured loan type is behind nearly 1 in 5 of all homebuyers. The loan program is primarily designed to help homebuyers who cannot afford the traditional 20% down payment that is often required by private lenders. With a down payment that can be as low as 3.5%, an FHA loan can end up being a perfect match for buyers who aren't eligible for conventional loans.
Around Aurora, Mr. Cooper has seen FHA loans increase in popularity alongside the rise of rental costs and student loan debt — two things that can make it difficult to put away money for a down payment. Another perk to FHA loans is that they're usually available to borrowers with lower credit scores. No matter your circumstances, Mr. Cooper can walk you through the ins and outs of FHA loans and figure out the best financing option for your needs.
Should You Pursue a VA Loan in Aurora?
America's service men and women, veterans, and their spouses deserve the absolute best. If you think you may be eligible for a VA loan, Mr. Cooper can share their knowledge to help you get approved for a VA home loan in Aurora. Connect with Mr. Cooper if you're looking to buy a home in Aurora and want to learn more about VA loans. This loan type can make the home buying process much easier in a couple of ways. Many times, interest rates are substantially lower than the rest of the mortgage market. There’s also a chance that you may not be required to put down a down payment. Checking your VA eligibility for a VA loan in Aurora is quick and easy with a Mr. Cooper professional guiding you through the application process.
Mr. Cooper Simplifies Jumbo Loans in Aurora, Too
Jumbo loans are another option for some homebuyers in Aurora. A jumbo mortgage, or a jumbo loan, surpasses the limits of a conventional loan. Jumbo loans are designed to help people refinance or buy higher-valued real estate and are often millions of dollars. If you'd like to use a jumbo loan to buy a home in Aurora, you will most likely require a larger loan amount that surpasses conventional loan limits. Call Mr. Cooper to learn more about jumbo loan eligibility in Aurora.
Buy a Home in Aurora with Help from Mr. Cooper
The mortgage professionals at Mr. Cooper are ready to walk alongside you as you buy a home in Aurora. However, we know that looks different for everyone. Some people just want to know the latest mortgage rates in Aurora. Others want to get preapproved for a mortgage in Aurora. While others are ready to speed through the loan application process and close on a home tomorrow! No matter what you're looking for, Mr. Cooper's home buyer program in Aurora can help you find it. Reach out to a mortgage professional now.
- 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.