Finding Your Fit, Finding Your Shrewsbury Home Loan
A home isn't a one size fits all kind of thing. Neither are home loans in Shrewsbury. Finding the right fit for you requires some loan-to-loan comparisons! That’s where Mr. Cooper can help. Our mission is to keep the dream of homeownership alive starting with the mortgage loan process. We hope you'll keep reading for basic information about finding a home loan, but also call a Mr. Cooper mortgage expert with questions about your situation.
As you start looking for loans, check your credit and try your best to improve your score. A less-than-stellar credit score could mean you end up with a higher interest rate on your home loan. On the flip side, a high credit score can help you negotiate your best rate with a potential lender. Your credit history, financial state, and the timeline you wish to make your move can all impact the loan type that aligns with your goals. So, what loans can you pick from?
What Home Loan Options Do I Have in Shrewsbury, MA?
You may have options when it comes to Shrewsbury home loans: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. 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 loans and VA loans fall into the government loan category. Income and credit requirements are usually a little more 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 understand your options and next steps, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Shrewsbury, MA
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Shrewsbury to show that you're serious about buying a home. 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. The letter can also carry more weight seller’s you’re serious about the home they’re selling. Call the mortgage team at Mr. Cooper today to chat about everything from your credit, possible loan options and your Verified Approval letter. Now is a great time for buying a home in Shrewsbury. 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.