Getting the Home Loan in Independence, MO That's Best for You
A home isn't a one size fits all kind of thing. Independence home loans aren’t either. Finding the right fit for you requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our aim is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to continue reading for routine details about picking your Independence home loan, but also reach out to Mr. Cooper mortgage professional for any questions you may have.
As you start looking for loans, check your credit and try your best to improve your score. A low credit score could mean you end up with a higher interest rate on your home loan. On the flip side, a higher credit rating can help you secure a better rate with your potential lender. Your credit score, financial situation, and the timeline you'd like to make your move can all be a factor in the type of home loan that fits your needs. So, what loans can you pick from?
What Types of Loans Are There in Independence, MO?
There are several different types of home loans available to Independence home buyers: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). A conventional loan could be a great route for you if your credit is healthy, your income and employment history are stable, and you're ready to make a down payment of as little as 3% depending on your situation.
VA loans and FHA loans are both classified as government loans. Credit and salary/wage requirements tend to have laid-back than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which one of these home loans is a good fit for you? A trained loan officer can help you understand your options and next steps, depending on your stage in the journey.
Start with a Preapproval Letter in Independence, MO
Get a Verified Approval Letter from your lender before you start going to Open Houses in Independence to show that you've done your due diligence. 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. It can also show seller’s you’re serious about the home they’re selling. Call the mortgage team at Mr. Cooper now to talk about all things loan-related! We'll walk through everything from your potential loan options, credit score, and your Verified Approval letter. Now could be the perfect time for you to buy a house in Independence. 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.