Get Started on Your Archdale Home Loan Journey
Homes aren't one size fits all structures. Neither are home loans in Archdale. Getting the best fit for you may require some comparison shopping! That's where Mr. Cooper comes in. Our mission is to transform the homeownership journey into an enjoyable one, starting with the loan process. We hope you'll keep reading for general details about picking your Archdale home loan, but also reach out to 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 higher credit rating can help you advocate for your best rate with a lender. Your credit score, financial situation, and the timeframe you wish to make your move can all be a factor in the type of loan that matches your needs. So, what's out there to choose from?
What Types of Loans Are There in Archdale, NC?
There are several different types of home loans available to Archdale 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 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.
FHA and VA loans are both classified as government loans. Credit and salary/wage requirements are often different criteria than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. Which one of these home loans is a good fit for you? A loan officer can help you compare loans and plan your next steps, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Archdale, NC
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Archdale to demonstrate that you're a serious buyer. 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 speed up to sellers you can afford the home they’re selling. Give us a call now to talk about all things loan-related! We'll walk through everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in Archdale. What are you waiting for? 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.