Finding Your Fit, Finding Your Lakeville Home Loan
Houses aren't one size fits all. Lakeville home loans aren’t either. Getting the best fit for you requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our goal is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the loan process. We encourage you to read on for basic information about finding a home loan, but also contact a Mr. Cooper mortgage expert with questions about your situation.
Check your credit before you start applying for loans and try your best to get it in tip-top shape. A not-so-great credit score could mean you'll have a higher interest rate on your mortgage loan. On the flip side, a strong credit score can help you secure a better rate with your potential lender. Your credit history, financial state, and the timeline you're looking to move can all affect the type of home loan that fits your needs. So, what loans can you pick from?
What Types of Loans Are There in Lakeville, MN?
You may have options when it comes to Lakeville home loans: 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 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.
VA loans and FHA loans are both types of government loans. Credit and income requirements are often laid-back than conventional loans. Also, active-duty service members, veterans and surviving spouses 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 understand your options and next steps, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Lakeville, MN
Get a Verified Approval Letter from your lender before you start shopping for homes in Lakeville to demonstrate that you really do intend to buy. 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 show seller’s you’re serious about the home they’re selling. Give us a call today to chat about 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 Lakeville. Get started with the help you need!
- 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.