Finding Your Fit, Finding Your Midland Home Loan
A home isn't a one size fits all kind of thing. The same can be said for home loans in Michigan. Securing the correct fit for your needs takes some shopping around! 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 hope you'll keep reading for general information about selecting a mortgage loan, but also reach out to Mr. Cooper mortgage expert with questions about your situation.
Check your credit before you start applying for loans 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 advocate for your best rate with a lender. Your credit history, finances, and and the timing in which you'd like to make your move can all affect the type of home loan that fits your needs. So, what's out there to choose from?
What Home Loan Options Do I Have in Midland, MI?
Midland home buyers have more than one type of home loan to choose from. There are: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loan could be a great route 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 are both types of government loans. Credit and salary/wage requirements are usually a little more different criteria than conventional loans. And if you're a veteran, active-duty service member or surviving spouse, you may be eligible to apply for a VA new home loan. Which home loan is right 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.
Start with a Preapproval Letter in Midland, MI
Secure a Verified Approval Letter from the lender before you start shopping for homes in Midland to show that you've done your due diligence. 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 to sellers you can afford the home they’re selling. Call the mortgage team at Mr. Cooper now to talk about all things loan-related! We'll walk through everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in Midland. 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.