Get Started on Your Plymouth Home Loan Journey
A home isn't a one size fits all kind of thing. Plymouth home loans aren’t either. Securing the correct fit for your needs takes some shopping around! That’s where Mr. Cooper can help. Our mission is to transform the homeownership journey into an enjoyable one, starting with the loan process. We hope you'll keep reading for introductory details about picking your Plymouth home loan, but also reach out to Mr. Cooper professional with any mortgage questions you might have.
As you start looking for loans, check your credit and work to get it in tip-top shape. A low credit score may mean you are presented with a higher interest rate on your loan. On the other hand, a higher credit rating can help you secure a better rate with your potential lender. Your credit strength, financial situation, and the timeframe you wish to make your move can all impact the loan type that aligns with your goals. So, what options are out there for you?
What Home Loan Options Do I Have in Plymouth, MN?
Plymouth home buyers have more than one type of home loan to choose from. There are: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loan may be the perfect option 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.
FHA and VA loans fall into the government loan category. Credit and income requirements are often different than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. Which home loan is right for you? A trained 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 Plymouth, MN
Get a Verified Approval Letter from your lender before you start going to Open Houses in Plymouth to show 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. It can also show to sellers you can afford the home they’re selling. Call the mortgage team at Mr. Cooper 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 Plymouth. 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.