Getting the Home Loan in Kansas City, KS That's Best for You
Houses aren't one size fits all. The same can be said for home loans in Kansas. Securing the correct fit for your needs takes some shopping around! That’s where Mr. Cooper can help. Our mission is to transform the homeownership journey into an enjoyable one, starting with the mortgage loan process. We encourage you to continue reading for general information about selecting a mortgage loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
As you start looking for loans, check your credit and try your best to get it in tip-top shape. A less-than-stellar credit score may mean you'll have a higher interest rate on your mortgage loan. On the other hand, a strong credit score can help you advocate for your best rate with a lender. Your credit history, finances, and and the timing in which you wish to make your move can all influence the type of loan that matches your needs. So, what loans can you pick from?
What Types of Loans Are There in Kansas City, KS?
There are several different types of home loans available to Kansas City 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 you're ready to make a down payment of at least 3% (depending on your situation), your credit is healthy, and your income and employment history are stable.
FHA and VA loans are both classified as government loans. Credit and income requirements are often 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 one of these home loans is a good fit for you? A loan officer can help you get to know your options and what comes next, depending on your position in the process.
Get a Preapproval Letter Before You Shop in Kansas City, KS
Secure a Verified Approval Letter from the lender before you start shopping for homes in Kansas City to demonstrate that you've done your due diligence. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. It can also speed up with the real estate agent and seller because they know you can buy the home. Contact a Mr. Cooper mortgage professional today to discuss 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 Kansas City. Call now to get the super-smart help you want!
- 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.