Getting the Home Loan in Shelby Township, MI That's Best for You
Houses aren't one size fits all. Neither are home loans in Shelby Township. Securing the correct fit for your needs may require some comparison shopping! That’s where 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 encourage you to continue 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 work to get it in tip-top shape. A less-than-stellar credit score may mean you are presented with a higher interest rate on your loan. On the flip side, a high credit score can help you advocate for your best rate with a lender. Your credit score, financial state, and the timing in which you'd like to make your move can all impact the type of loan that matches your needs. So, what loans can you pick from?
What Home Loan Options Do I Have in Shelby Township, MI?
There are several different types of home loans available to Shelby Township 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 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 loans and VA loans are both classified as government loans. Credit and income requirements are usually a little more laid-back than conventional loans. Also, veterans, surviving spouses and active-duty service members 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 compare loans and plan your next steps, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Shelby Township, MI
Get a Verified Approval Letter from your lender before you start shopping for homes in Shelby Township 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 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. Now is a great time for buying a home in Shelby Township. 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.