Get Started on Your Lawrence Home Loan Journey
Houses aren't one size fits all. Neither are home loans in Lawrence. Securing the correct fit for your needs requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our goal 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 selecting a mortgage loan, but also reach out to Mr. Cooper professional with any mortgage questions you might have.
Check your credit before you start applying for loans and try your best to get it in tip-top shape. A not-so-great credit score might mean you are presented with a higher interest rate on your loan. On the flip side, a strong credit score can help you secure a better rate with your potential lender. Your credit history, financial situation, and the timeframe you wish to make your move can all impact the type of loan that matches your needs. So, what's out there to choose from?
What Home Loan Options Do I Have in Lawrence, IN?
Lawrence home buyers have more than one type of home loan to choose from. There are: 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 than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A professional Mr. Cooper loan officer can help you understand your options and next steps, depending on your stage in the journey.
Start with a Preapproval Letter in Lawrence, IN
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in Lawrence to show that you're serious about buying a home. A Verified Approval Letter is evidence that the lender has reviewed your finances and has given you an estimate of how much you can buy. It can also show with the real estate agent and seller because they’re know you can afford the home. Give us a call now to talk about all things loan-related! We'll walk through everything from your credit, possible loan options and your Verified Approval letter. Now could be the perfect time for you to buy a house in Lawrence. 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.