Finding Your Fit, Finding Your Meridian Home Loan
Houses aren't one size fits all. Neither are home loans in Meridian. Finding the right fit for you may require some comparison shopping! That's where Mr. Cooper comes in. Our mission is to keep the dream of homeownership alive starting with the mortgage loan process. We encourage you to continue reading for introductory information about selecting a mortgage loan, but also call 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 less-than-stellar credit score may mean you'll have a higher interest rate on your mortgage loan. On the other hand, a strong credit score can help you advocate for your best rate with a lender. Your credit score, financial state, and the timeframe you're looking to move can all impact the type of loan that matches your needs. So, what options are out there for you?
What Types of Loans Are There in Meridian, MS?
You may have options when it comes to Meridian 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 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 are both types of government loans. Credit and income requirements are often different criteria 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 get to know your options and what comes next, depending on your position in the process.
Get a Preapproval Letter Before You Shop in Meridian, MS
Secure a Verified Approval Letter from the lender before you start shopping for homes in Meridian to demonstrate that you're a serious buyer. 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. The letter can also carry more weight with the real estate agent and seller because they’re know you can afford the home. 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 Meridian. 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.