Getting the Home Loan in Huntington, NY That's Best for You
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 takes some shopping around! That’s where 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 continue reading for basic details about picking your Huntington home loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
As you begin searching for home loans, double check your credit and work to get it in tip-top shape. A poor credit rating could mean you'll have a higher interest rate on your mortgage loan. On the flip side, a high credit score can help you secure a better rate with your potential lender. Your credit score, financial situation, and the timeframe you wish to make your move can all influence the loan type that aligns with your goals. So, what loans can you pick from?
Different Types of Home Loans in Huntington, NY
There are several different types of home loans available to Huntington 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.
FHA loans and VA loans are both types of government loans. Income and credit requirements are usually a little more 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. Which one of these home loans is a good fit 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.
Begin in Huntington, NY with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Huntington to indicate 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. It can also show to sellers you can afford 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. Now could be the perfect time for you to buy a house in Huntington. Get started with the help you need!
- 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.