Getting the Home Loan in Lexington, KY That's Best for You
Houses aren't one size fits all. Lexington home loans aren’t either. Finding the right fit for you requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our goal is to keep the dream of homeownership alive starting with the loan process. We hope you'll keep reading for introductory information about selecting a mortgage loan, but also reach out to Mr. Cooper mortgage professional for any questions you may have.
As you start looking for loans, check your credit and work to get it in tip-top shape. A less-than-stellar credit score may mean you end up with a higher interest rate on your home loan. On the flip side, a strong credit score can help you negotiate your best rate with a potential lender. Your credit strength, finances, and and the timing in which you'd like to make your move can all influence the type of loan that matches your needs. So, what loans can you pick from?
What Home Loan Options Do I Have in Lexington, KY?
You may have options when it comes to Lexington home loans: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). 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 types of government loans. Credit and salary/wage requirements tend to have different than conventional loans. Also, veterans, surviving spouses and active-duty service members 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 get to know your options and what comes next, depending on where you are on your journey.
Begin in Lexington, KY with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you start going to Open Houses in Lexington to demonstrate 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. The letter can also carry more weight with the real estate agent and seller because they know you can afford the home. Contact a Mr. Cooper mortgage professional 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 is a great time for buying a home in Lexington. What are you waiting for? 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.