Types of Mr. Cooper Home Loans in Decatur, IL
In Decatur, planning a home purchase is easier when you have Mr. Cooper on your side. As a top-20 home lender and the third-largest home loan servicer in the country, we have decades of experience to help you evaluate your loan options and finalize your home buying plan.
A Mr. Cooper mortgage professional can create a personalized strategy that will help you get smarter about your home loan options. We can help you figure out what today's mortgage rates are in Decatur, how much house you can afford, and also get prequalified for a mortgage in Decatur. Our mortgage professionals will evaluate your unique financial and living situation and will come up with a recommended plan for the best mortgage options that fit your needs. Learn more about various home mortgages below and contact a Mr. Cooper mortgage professional in Decatur to get started. You can begin the pre-qualification process today. Get Started
Do You Qualify for an FHA Loan in Decatur, IL?
If you're searching for a loan with a potentially lower down payment and flexible credit requirements, you might want to consider a Federal Housing Administration (FHA) loan. About 1 in 5 of all homebuyers go with this type of government-insured loan. The loan program is primarily designed to help homebuyers who cannot afford the traditional 20% down payment that is often required by private lenders. The down payment can be as low as 3.5% and may be a perfect fit for buyers who can’t get a conventional loan.
In Decatur, Mr. Cooper has seen FHA loans increase in popularity alongside the rise of rental costs and student loan debt — two circumstances that can make it difficult to put away money for a down payment. Another benefit to FHA loans is that they're often accessible to borrowers with lower credit scores. Whatever your situation, Mr. Cooper can help you determine if an FHA loan is right for you. And if it's not, we'll help you find a different financing route.
Mr. Cooper Can Be Your Guide to Decatur VA Loans
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 Decatur. Contact Mr. Cooper if you're starting the home buying process in Decatur and you could be eligible for a VA loan. There are many benefits in this loan type that can make the home buying process a lot easier. Interest rates are often significantly lower than the broader mortgage market. You may not be required to put down a down payment, either. With a Mr. Cooper professional guiding you through the application process, checking your VA eligibility for a VA loan in Decatur is quick and easy.
When to Consider Mr. Cooper Jumbo Loans in Decatur
Jumbo loans are a good match for many homebuyers in Decatur. A jumbo loan, or a jumbo mortgage, goes beyond the limits of a conventional loan. Jumbo loans are often in the millions and are designed to help people buy or refinance higher-valued real estate. If you're curious about using a jumbo loan to buy a house in Decatur, you'll probably need larger loan amounts that surpass conventional loan limits. For more information on jumbo loan eligibility in Decatur, contact Mr. Cooper.
Mr. Cooper Can Help You Buy a Home in Decatur
The mortgage professionals at Mr. Cooper are ready to walk alongside you as you buy a home in Decatur. But we know that means different things to different people. Some people are only interested in knowing today's mortgage rates in Decatur. Others can't wait to prequalify for a mortgage in Decatur. While others are ready to speed through the loan application process and close on a home tomorrow! Mr. Cooper's home buyer program in Decatur exists to make your dreams a reality. Talk to a mortgage professional today.
- 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.