Getting the Home Loan in Jenison, MI That's Best for You
Homes aren't one size fits all structures. Jenison home loans aren’t either. Getting the best fit for you requires some loan-to-loan comparisons! Mr. Cooper can help! Our mission is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the loan process. We hope you'll keep reading for general information about finding a home loan, but also reach out to 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 not-so-great credit score could mean you'll have a higher interest rate on your mortgage loan. On the flip side, a high credit score can help you negotiate your best rate with a potential lender. Your credit score, financial state, and the timing in which you wish to make your move can all be a factor in the loan type that aligns with your goals. So, what options are out there for you?
Different Types of Home Loans in Jenison, MI
There are several different types of home loans available to Jenison home buyers: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). A conventional loan may be the perfect option 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.
VA and FHA loans are both classified as government loans. Income and credit requirements tend to have 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 trained loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Begin in Jenison, MI with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you begin looking for houses in Jenison to demonstrate that you're serious about buying a home. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. The letter can also carry more weight seller’s you’re serious about the home they’re selling. Give us a call today to chat about everything from your credit, possible loan options and your Verified Approval letter. Now could be the perfect time for you to buy a house in Jenison. 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.