Get Started on Your Troy Home Loan Journey
Houses aren't one size fits all. The same can be said for home loans in Missouri. Getting the best fit for you takes some shopping around! That’s where Mr. Cooper can help. Our mission is to keep the dream of homeownership alive starting with the loan process. We hope you'll keep reading for general information about finding a home loan, but also reach out to Mr. Cooper professional with any mortgage questions you might have.
Check your credit before you start applying for loans and try your best to improve your score. A not-so-great credit score may mean you'll have a higher interest rate on your mortgage loan. On the other hand, a high credit score can help you negotiate your best rate with a potential lender. Your credit history, finances, and and the timeline you wish to make your move can all affect the type of loan that matches your needs. So, what options are out there for you?
Different Types of Home Loans in Troy, MO
Troy home buyers have more than one type of home loan to choose from. There are: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loans might be a good choice 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 fall into the government loan category. Credit and income requirements tend to have different 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. How do you know which home loan is the best for you? A professional loan officer can help you understand your options and next steps, depending on your stage in the journey.
Start with a Preapproval Letter in Troy, MO
Get a Verified Approval Letter from your lender before you start shopping for homes in Troy to demonstrate 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. Give us a call today to discuss everything from your credit, possible loan options and your Verified Approval letter. Now is a great time for buying a home in Troy. What are you waiting for? See how we can help you navigate your next home-buying experience!
- 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.