On Your Way Toward a New Home Loan in Fort Washington, MD
Houses aren't one size fits all. Neither are home loans in Fort Washington. Finding the right fit for you may require some comparison shopping! Mr. Cooper can help! Our goal is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the loan process. We hope you'll keep reading for basic details about picking your Fort Washington home loan, but also contact a Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and try your best to improve your score. A not-so-great credit score might mean you end up with a higher interest rate on your home loan. On the flip side, a high credit score can help you secure a better rate with your potential lender. Your credit score, financial situation, and the timeline you wish to make your move can all affect the type of loan that matches your needs. So, what's out there to choose from?
Different Types of Home Loans in Fort Washington, MD
You may have options when it comes to Fort Washington 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 may be the perfect option 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.
VA and FHA loans are both classified as government loans. Credit and income requirements are often laid-back than conventional loans. And if you're a veteran, active-duty service member or surviving spouse, you may be eligible to apply for a VA new home loan. Which one of these home loans is a good fit for you? A professional loan officer can help you understand your options and next steps, depending on your stage in the journey.
Start with a Preapproval Letter in Fort Washington, MD
Get a Verified Approval Letter from your lender before you begin looking for houses in Fort Washington to indicate that you really do intend to buy. 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 seller’s you’re serious about the home they’re selling. Contact a Mr. Cooper mortgage professional today to discuss everything from your credit, possible loan options and your Verified Approval letter. Now is a great time for buying a home in Fort Washington. 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.