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Find a Home Loan in Burnsville, MN

For all your Burnsville home loan needs, call Mr. Cooper. We're your purchase and refinance partner in Minnesota.

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Finding Your Fit, Finding Your Burnsville Home Loan

Houses aren't one size fits all. The same can be said for home loans in Minnesota. Finding the right fit for you takes some shopping around! 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 mortgage loan process. We encourage you to continue reading for general details about picking your Burnsville home loan, but also call a Mr. Cooper mortgage expert with questions about your situation.

Check your credit before you start applying for loans and work to get it in tip-top shape. A not-so-great credit score may mean you end up with a higher interest rate on your home loan. On the other hand, a strong credit score can help you negotiate your best rate with a potential lender. Your credit score, finances, and and the timing in which you'd like to make your move can all be a factor in the type of loan that matches your needs. So, what loans can you pick from?

What Types of Loans Are There in Burnsville, MN?

There are several different types of home loans available to Burnsville 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 could be a great route 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 classified as government loans. Credit and income requirements tend to have laid-back than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A loan officer can help you understand your options and next steps, depending on your position in the process.

Get a Preapproval Letter Before You Shop in Burnsville, MN

Secure a Verified Approval Letter from the lender before you begin looking for houses in Burnsville to indicate that you really do intend to buy. 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. It can also show with the real estate agent and seller because they know you can afford the home. Give us a call today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. Now could be the perfect time for you to buy a house in Burnsville. Call now to get the super-smart help you want!

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