Types of Mr. Cooper Home Loans in Macomb, IL
In Macomb, planning a home purchase is easier when you have Mr. Cooper on your side. As the nation's third-largest home loan servicer and a top-20 home lender, we have decades of experience to help you understand your loan options and solidify your home buying plan.
A Mr. Cooper mortgage professional can design a custom strategy that will help you tackle the home loan process with confidence. We can help you figure out everything from how much house you can afford to what today's mortgage rates are in Macomb. 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 Macomb to get started. You could prequalify for a mortgage in no time. Get Started
Do You Qualify for an FHA Loan in Macomb, IL?
If you’re looking for a loan with flexible credit requirements and a potentially lower down payment, a Federal Housing Administration (FHA) loan may be a good option for you. About 1 in 5 of all homebuyers go with this type of government-insured loan. The loan program largely caters to homebuyers who cannot afford the usual 20% down payment that many private lenders require. 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 Macomb, Mr. Cooper has seen FHA loans increase in popularity alongside the rise of rental costs and student loan debt — two factors that can make it hard to save money for a large 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.
Should You Pursue a VA Loan in Macomb?
This nation's service men and women, veterans, and their spouses deserve nothing but the 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 Macomb. Reach out to Mr. Cooper if you’re ready to buy a home in Macomb and think that you might be eligible for a VA loan. This loan type can make the home buying process much easier in a couple of ways. VA loans offer lower rates when compared to the overall mortgage landscape. There’s also a chance that you may not be required to put down a down payment. Confirming your VA eligibility for a VA loan in Macomb is fast and simple with a Mr. Cooper professional walking you through the application process.
When to Consider Mr. Cooper Jumbo Loans in Macomb
Jumbo loans are another option for some homebuyers in Macomb. A jumbo loan, or a jumbo mortgage, exceeds the limits of a conventional loan. Jumbo loans are made to help people refinance or buy higher-valued real estate and are often in the millions. If you're curious about using a jumbo loan to buy a house in Macomb, you'll probably need larger loan amounts that surpass conventional loan limits. For more information on jumbo loan eligibility in Macomb, contact Mr. Cooper.
Mr. Cooper Can Help You Buy a Home in Macomb
Mr. Cooper's family of mortgage professionals is ready to help you buy a house in Macomb. However, we know that looks different for everyone. Some people just want to check mortgage rates in Macomb. Others want to get preapproved for a mortgage in Macomb. And still others can't wait to pack their moving boxes and close on a home as soon as possible! No matter what you're looking for, Mr. Cooper's home buyer program in Macomb 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.