On Your Way Toward a New Home Loan in Durham, NH
A home isn't a one size fits all kind of thing. Durham home loans aren’t either. Finding the right fit for you requires some loan-to-loan comparisons! That’s where Mr. Cooper can help. Our aim is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the loan process. We hope you'll keep reading for routine details about picking your Durham 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 not-so-great credit score may mean you end up with a higher interest rate on your home loan. On the other hand, a strong credit score can help you advocate for your best rate with a lender. Your credit strength, financial situation, and the timing in which you're looking to move can all influence the loan type that aligns with your goals. So, what loans can you pick from?
What Types of Loans Are There in Durham, NH?
There are several different types of home loans available to Durham home buyers: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. 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 loans and VA loans fall into the government loan category. Income and credit requirements tend to have different 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 Mr. Cooper loan officer can help you compare loans and plan your next steps, depending on your position in the process.
Get a Preapproval Letter Before You Shop in Durham, NH
Secure a Verified Approval Letter from the lender before you start shopping for homes in Durham to demonstrate that you really do intend to buy. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. It can also show seller’s you’re serious about the home they’re selling. Contact a Mr. Cooper mortgage professional today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. It could be the perfect season for you to buy a new house in Durham. 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.