Get Started on Your Clayton Home Loan Journey
A home isn't a one size fits all kind of thing. Clayton home loans aren’t either. Finding the right fit for you takes some shopping around! Mr. Cooper can help! Our goal is to turn the homeownership journey into something that's less difficult and more enjoyable, beginning with the mortgage loan process. We encourage you to continue reading for basic information about selecting a mortgage loan, but also call a Mr. Cooper mortgage professional for any questions you may have.
As you begin searching for home loans, double check your credit and work to get it in tip-top shape. A less-than-stellar credit score may mean you'll have a higher interest rate on your mortgage loan. On the other hand, a high credit score can help you advocate for your best rate with a lender. Your credit strength, financial situation, and the timeframe you wish to make your move can all be a factor in the loan type that aligns with your goals. So, what's out there to choose from?
What Types of Loans Are There in Clayton, NC?
You may have options when it comes to Clayton home loans: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loans might be a good choice 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.
VA and FHA loans are both types of government loans. Credit and income requirements are usually a little more laid-back than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which one of these home loans is a good fit for you? A trained loan officer can help you understand your options and next steps, depending on your position in the process.
Begin in Clayton, NC with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Clayton to indicate that you really do intend to buy. A Verified Approval Letter is proof that your finances have been reviewed by the lender, and you have 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 chat about everything from your Verified Approval letter to your credit and loan options. It could be the perfect season for you to buy a new house in Clayton. See how we can help you navigate your next home-buying experience!
- 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.