On Your Way Toward a New Home Loan in Bethlehem, NY
A home isn't a one size fits all kind of thing. The same can be said for home loans in New York. Securing the correct fit for your needs requires some loan-to-loan comparisons! Mr. Cooper can help! Our mission is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the loan process. We encourage you to continue reading for basic information about selecting a mortgage loan, but also contact a Mr. Cooper mortgage expert with questions about your situation.
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 end up with a higher interest rate on your home loan. On the other hand, a higher credit rating can help you advocate for your best rate with a lender. Your credit strength, finances, and and the timeline you're looking to move can all be a factor in the type of loan that matches your needs. So, what loans can you pick from?
Different Types of Home Loans in Bethlehem, NY
Bethlehem 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 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 loans and FHA loans are both classified as government loans. Credit and salary/wage requirements are usually a little more laid-back 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 position in the process.
Get a Preapproval Letter Before You Shop in Bethlehem, NY
Secure a Verified Approval Letter from the lender before you start shopping for homes in Bethlehem to show that you've done your due diligence. A Verified Approval Letter is evidence that the lender has reviewed your finances and has given you 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. Call the mortgage team at Mr. Cooper today to discuss everything from your credit, possible loan options and your Verified Approval letter. It could be the perfect season for you to buy a new house in Bethlehem. 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.