Finding Your Fit, Finding Your Jericho Home Loan
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 may require some comparison shopping! That’s where Mr. Cooper can help. Our goal is to transform the homeownership journey into an enjoyable one, starting with the mortgage loan process. We hope you'll keep reading for basic information about finding a home loan, but also contact 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 other hand, a strong credit score can help you secure a better rate with your potential lender. Your credit history, financial situation, and the timing in which you're looking to move can all be a factor in the loan type that aligns with your goals. So, what options are out there for you?
What Home Loan Options Do I Have in Jericho, NY?
You may have options when it comes to Jericho home loans: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). A conventional loan may be the perfect option 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 are both types of government loans. Credit and income requirements tend to have different criteria 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 home loan is right for you? A professional loan officer can help you compare loans and plan your next steps, depending on your stage in the journey.
Begin in Jericho, NY with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start shopping for homes in Jericho to indicate that you're serious about buying a home. 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 with the real estate agent and seller because they know you can afford the home. 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 Jericho. 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.