Get Started on Your East Riverdale Home Loan Journey
Homes aren't one size fits all structures. Neither are home loans in East Riverdale. Finding the right fit for you requires some loan-to-loan comparisons! That’s where Mr. Cooper can help. Our goal is to transform the homeownership journey into an enjoyable one, starting with the mortgage loan process. We encourage you to continue reading for general details about picking your East Riverdale home loan, but also call a Mr. Cooper mortgage professional for any questions you may have.
As you begin searching for home loans, double check your credit and try your best to improve your score. A not-so-great credit score could mean you end up with a higher interest rate on your home loan. On the other hand, a high 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 impact the type of loan that matches your needs. So, what loans can you pick from?
What Home Loan Options Do I Have in East Riverdale, MD?
You may have options when it comes to East Riverdale 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 loan could be a great route for you if your income and employment history are stable, your credit is healthy, and you're going to make a down payment of at least 3% depending on your situation.
FHA loans and VA loans are both classified as government loans. Credit and salary/wage 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 home loan is right 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 East Riverdale, MD
Get a Verified Approval Letter from your lender before you start shopping for homes in East Riverdale to show that you've done your due diligence. A Verified Approval Letter is proof that your finances have been reviewed by the lender, and you have an estimate of how much you can buy. It can also speed up seller’s you’re serious about the home they’re selling. Call the mortgage team at Mr. Cooper now to talk about all things loan-related! We'll walk through everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in East Riverdale. What are you waiting for? Get started with the help you need!
- 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.