Getting the Home Loan in Chesterfield, MO That's Best for You
Houses aren't one size fits all. Chesterfield home loans aren’t either. Securing the correct fit for your needs requires some loan-to-loan comparisons! Mr. Cooper can help! Our goal is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to read on for basic information about selecting a mortgage loan, but also call a 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 less-than-stellar credit score might mean you end up with a higher interest rate on your home loan. On the other hand, a higher credit rating can help you negotiate your best rate with a potential lender. Your credit history, financial situation, and the timing in which you'd like to make your move can all impact the type of home loan that fits your needs. So, what's out there to choose from?
What Home Loan Options Do I Have in Chesterfield, MO?
There are several different types of home loans available to Chesterfield home buyers: 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 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.
VA and FHA loans are both classified as government loans. Income and credit requirements are usually a little more 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 home loan is right for you? A professional Mr. Cooper loan officer can help you understand your options and next steps, depending on your position in the process.
Begin in Chesterfield, MO with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in Chesterfield to show that you're serious about buying a home. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. The letter can also carry more weight to sellers you can buy 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 Chesterfield. 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.