Get Started on Your Fairhaven Home Loan Journey
A home isn't a one size fits all kind of thing. The same can be said for home loans in Massachusetts. Securing the correct fit for your needs requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our mission is to keep the dream of homeownership alive starting with the loan process. We encourage you to continue reading for basic information about selecting a mortgage loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
As you begin searching for home loans, double check your credit and try your best to improve your score. A less-than-stellar credit score might mean you are presented with a higher interest rate on your loan. On the flip side, a high credit score can help you secure a better rate with your potential lender. Your credit history, financial state, 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's out there to choose from?
What Types of Loans Are There in Fairhaven, MA?
You may have options when it comes to Fairhaven home loans: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loans might be a good choice for you if your credit is healthy, your income and employment history are stable, and you're ready to make a down payment of as little as 3% depending on your situation.
FHA loans and VA loans are both classified as government loans. Income and credit requirements are usually a little more different 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 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 Fairhaven, MA
Talk to your lender about a Verified Approval Letter. Get one before you start going to Open Houses in Fairhaven to indicate 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. It can also show seller’s you’re serious about the home they’re selling. Call the mortgage team at Mr. Cooper today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in Fairhaven. 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.