Finding Your Fit, Finding Your Clarksdale Home Loan
Homes aren't one size fits all structures. Clarksdale home loans aren’t either. Finding the right fit for you takes some shopping around! That's where Mr. Cooper comes in. Our mission is to transform the homeownership journey into an enjoyable one, starting with the loan process. We hope you'll keep reading for routine details about picking your Clarksdale home loan, but also reach out to Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and work to get it in tip-top shape. A low credit score could mean you are presented with a higher interest rate on your loan. On the flip side, a higher credit rating can help you negotiate your best rate with a potential lender. Your credit history, financial state, and the timeframe you wish to make your move can all influence the type of loan that matches your needs. So, what's out there to choose from?
Different Types of Home Loans in Clarksdale, MS
Clarksdale 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 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.
FHA and VA loans are both classified as government loans. Credit and salary/wage requirements are often laid-back 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. Which one of these home loans is a good fit for you? A professional Mr. Cooper loan officer can help you compare loans and plan your next steps, depending on where you are on your journey.
Start with a Preapproval Letter in Clarksdale, MS
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Clarksdale to show that you're a serious buyer. 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. The letter can also carry more weight seller’s you’re serious about the home they’re selling. Call the mortgage team at Mr. Cooper today to discuss everything from your Verified Approval letter to your credit and loan options. It could be the perfect season for you to buy a new house in Clarksdale. 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.