Get Started on Your Burton Home Loan Journey
Houses aren't one size fits all. The same can be said for home loans in Michigan. Securing the correct fit for your needs may require some comparison shopping! That's where Mr. Cooper comes in. Our goal is to transform the homeownership journey into an enjoyable one, starting with the loan process. We encourage you to continue reading for general information about selecting a mortgage loan, but also contact 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 poor credit rating may mean you are presented with a higher interest rate on your loan. On the flip side, a strong credit score can help you secure a better rate with your potential lender. Your credit strength, financial situation, and the timeframe you're looking to move can all influence the loan type that aligns with your goals. So, what loans can you pick from?
What Home Loan Options Do I Have in Burton, MI?
You may have options when it comes to Burton 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.
VA loans and FHA loans are both types of government loans. Income and credit requirements are often different criteria than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which one of these home loans is a good fit for you? A professional loan officer can help you get to know your options and what comes next, depending on your position in the process.
Start with a Preapproval Letter in Burton, MI
Talk to your lender about a Verified Approval Letter. Get one before you start going to Open Houses in Burton to demonstrate that you're a serious buyer. 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 to sellers you can afford 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 Burton. 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.