Getting the Home Loan in Waverly, MI That's Best for You
A home isn't a one size fits all kind of thing. Neither are home loans in Waverly. Securing the correct fit for your needs takes some shopping around! That’s where Mr. Cooper can help. Our goal is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the mortgage loan process. We encourage you to continue reading for basic details about picking your Waverly home loan, but also reach out to Mr. Cooper mortgage expert with questions about your situation.
As you begin searching for home loans, double check your credit and work to get it in tip-top shape. A not-so-great credit score might mean you'll have a higher interest rate on your mortgage loan. On the flip side, a higher credit rating can help you secure a better rate with your potential lender. Your credit history, financial situation, and the timing in which you wish to make your move can all impact the type of home loan that fits your needs. So, what options are out there for you?
Different Types of Home Loans in Waverly, MI
Waverly home buyers have more than one type of home loan to choose from. There are: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loan could be a great route for you if your credit is healthy, your income and employment history are stable, and you're ready to make a down payment of as little as 3% depending on your situation.
FHA and VA loans fall into the government loan category. Credit and income requirements tend to have 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. How do you know which home loan is the best for you? A trained loan officer can help you compare loans and plan your next steps, depending on your position in the process.
Start with a Preapproval Letter in Waverly, MI
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Waverly to demonstrate that you're serious about buying a home. 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 speed up seller’s you’re serious about the home they’re selling. Contact a Mr. Cooper mortgage professional today to chat about everything from your Verified Approval letter to your credit and loan options. Now could be the perfect time for you to buy a house in Waverly. 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.