On Your Way Toward a New Home Loan in Wareham, MA
Houses aren't one size fits all. Neither are home loans in Wareham. Finding the right fit for you takes some shopping around! Mr. Cooper can help! Our aim is to transform the homeownership journey into an enjoyable one, beginning with the mortgage loan process. We encourage you to continue reading for basic information about selecting a mortgage loan, but also call a Mr. Cooper mortgage expert with questions about your situation.
As you begin searching for home loans, double check your credit and try your best to get it in tip-top shape. A low credit score may mean you end up with a higher interest rate on your home loan. On the other hand, a strong credit score can help you negotiate your best rate with a potential lender. Your credit history, finances, and and the timing in which you'd like to make your move can all be a factor in the type of home loan that fits your needs. So, what options are out there for you?
What Types of Loans Are There in Wareham, MA?
You may have options when it comes to Wareham 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 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 classified as government loans. Credit and income requirements are usually a little more different 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 Mr. Cooper loan officer can help you compare loans and plan your next steps, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Wareham, MA
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Wareham to demonstrate that you really do intend to buy. 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. It can also show seller’s you’re serious about the home they’re selling. Give us a call today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. It could be the perfect season for you to buy a new house in Wareham. 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.