Learn About Home Loans in Severn, MD
In Severn, planning a home purchase is easier when you have Mr. Cooper on your side. As a top-20 home lender and the third-largest home loan servicer in the country, we have decades of experience to help you navigate your loan options and chart a path for home buying success.
A Mr. Cooper mortgage professional can create a personalized strategy that will help you get smarter about your home loan options. We can help you determine everything from how much house you can afford to what today's mortgage rates are in Severn. Our mortgage professionals will evaluate your unique financial and living situation and will come up with a recommended plan for the best mortgage options that fit your needs. Read on to learn more about different home mortgage options and contact a Mr. Cooper mortgage professional in Severn to get started. You can begin the pre-qualification process today. Get Started
Are You Eligible for an FHA Loan in Severn, MD?
If you're searching for a loan with a potentially lower down payment and flexible credit requirements, you might want to consider a Federal Housing Administration (FHA) loan. Close to 1 in 5 of all home buyers rely on this government-issued loan type. The loan program largely caters to homebuyers who cannot afford the usual 20% down payment that many private lenders require. The down payment can be as low as 3.5% and may be a perfect fit for buyers who can’t get a conventional loan.
In the Severn area, Mr. Cooper has seen FHA loans increase in popularity alongside the rise of rental costs and student loan debt — two circumstances that can make it tough to save enough money for a down payment. Another benefit to FHA loans is that they're often accessible to borrowers with lower credit scores. Whatever your situation, Mr. Cooper can help you weigh the pros and cons of FHA loans and determine the best financing route for you.
Should You Pursue a VA Loan in Severn?
There's no question about it. America's service members, veterans, and their spouses should receive the best. If you think you might be eligible for a VA loan, Mr. Cooper can lend our expertise in helping you get qualified for a VA home loan in Severn. Contact Mr. Cooper if you're starting the home buying process in Severn and you could be eligible for a VA loan. There are many benefits in this loan type that can make the home buying process a lot easier. VA loans offer lower rates when compared to the overall mortgage landscape. You may not be required to put down a down payment, either. With a Mr. Cooper professional guiding you through the application process, checking your VA eligibility for a VA loan in Severn is quick and easy.
When to Consider Mr. Cooper Jumbo Loans in Severn
Jumbo loans are another option for some homebuyers in Severn. A jumbo mortgage, or a jumbo loan, surpasses the limits of a conventional loan. Jumbo loans are often in the millions and are designed to help people buy or refinance higher-valued real estate. If you're curious about using a jumbo loan to buy a house in Severn, you'll probably need larger loan amounts that surpass conventional loan limits. For more information on jumbo loan eligibility in Severn, contact Mr. Cooper.
Buy a House in Severn with Help from Mr. Cooper
The mortgage professionals at Mr. Cooper are ready to walk alongside you as you buy a home in Severn. However, we know that looks different for everyone. Some people just want to check mortgage rates in Severn. Others want to get preapproved for a mortgage in Severn. While others are ready to speed through the loan application process and close on a home tomorrow! Whatever your unique needs and goals are, Mr. Cooper's home buyer program in Severn is here to make them a reality. Reach out to a mortgage professional now.