Get Started on Your Ruleville Home Loan Journey
Houses aren't one size fits all. Ruleville home loans aren’t either. Securing the correct fit for your needs takes some shopping around! That’s where Mr. Cooper can help. Our aim is to transform the homeownership journey into an enjoyable one, starting with the loan process. We encourage you to continue reading for routine details about picking your Ruleville 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 try your best to get it in tip-top shape. A low credit score might mean you'll have a higher interest rate on your mortgage loan. On the other hand, a strong credit score can help you negotiate your best rate with a potential lender. Your credit score, financial state, and the timeframe you're looking to move can all influence the loan type that aligns with your goals. So, what options are out there for you?
What Types of Loans Are There in Ruleville, MS?
Ruleville home buyers have more than one type of home loan to choose from. There are: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). 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 are both classified as government loans. Credit and salary/wage requirements tend to have 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 professional loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Ruleville, MS
Get a Verified Approval Letter from your lender before you begin looking for houses in Ruleville to indicate that you really do intend to buy. 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 to sellers you can afford the home they’re selling. Give us a call 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 Ruleville. 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.