Get Started on Your Tewksbury Home Loan Journey
Homes aren't one size fits all structures. Tewksbury home loans aren’t either. Finding the right fit for you may require some comparison shopping! That's where Mr. Cooper comes in. Our mission is to transform the homeownership journey into an enjoyable one, beginning with the mortgage loan process. We hope you'll keep reading for general information about selecting a mortgage loan, but also reach out to 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 are presented with a higher interest rate on your loan. On the flip side, a strong credit score can help you negotiate your best rate with a potential lender. Your credit score, finances, and and the timing in which you wish to make your move can all affect the loan type that aligns with your goals. So, what's out there to choose from?
Different Types of Home Loans in Tewksbury, MA
There are several different types of home loans available to Tewksbury home buyers: 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 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 and VA loans are both types of government loans. Income and credit requirements are usually a little more laid-back than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A professional loan officer can help you get to know your options and what comes next, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Tewksbury, MA
Get a Verified Approval Letter from your lender before you start going to Open Houses in Tewksbury to show that you really do intend to buy. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. It can also show with the real estate agent and seller because they’re know you can afford the home. Call the mortgage team at Mr. Cooper 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 Tewksbury. 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.