Get Started on Your Derry Home Loan Journey
A home isn't a one size fits all kind of thing. Neither are home loans in Derry. Finding the right fit for you takes some shopping around! Mr. Cooper can help! Our mission is to transform the homeownership journey into an enjoyable one, starting with the loan process. We encourage you to read on for routine information about finding a home loan, but also call a 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 poor credit rating 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 advocate for your best rate with a lender. Your credit score, financial situation, and the timeline you wish to make your move can all affect the type of loan that matches your needs. So, what's out there to choose from?
Different Types of Home Loans in Derry, NH
Derry 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 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.
FHA and VA loans are both classified as government loans. Credit and salary/wage requirements tend to have different criteria than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. How do you know which home loan is the best 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 Derry, NH
Talk to your lender about a Verified Approval Letter. Get one before you start going to Open Houses in Derry 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 discuss 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 Derry. 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.