Get Started on Your Cannon Falls Home Loan Journey
Homes aren't one size fits all structures. Cannon Falls home loans aren’t either. Getting the best fit for you requires some loan-to-loan comparisons! Mr. Cooper can help! Our aim is to transform the homeownership journey into an enjoyable one, starting with the mortgage loan process. We hope you'll keep reading for basic details about picking your Cannon Falls home loan, but also contact a 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 not-so-great credit score might mean you'll have a higher interest rate on your mortgage loan. On the flip side, a strong credit score can help you advocate for your best rate with a lender. Your credit score, financial state, and the timeframe you wish to make your move can all influence the type of loan that matches your needs. So, what loans can you pick from?
What Home Loan Options Do I Have in Cannon Falls, MN?
There are several different types of home loans available to Cannon Falls home buyers: 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.
VA loans and FHA loans are both types of government loans. Credit and income requirements are often 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 home loan is right for you? A loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Start with a Preapproval Letter in Cannon Falls, MN
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Cannon Falls to demonstrate that you've done your due diligence. 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 discuss everything from your credit, possible loan options and your Verified Approval letter. Now is a great time for buying a home in Cannon Falls. 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.