On Your Way Toward a New Home Loan in Eden, NC
Homes aren't one size fits all structures. The same can be said for home loans in North Carolina. Securing the correct fit for your needs requires some loan-to-loan comparisons! Mr. Cooper can help! Our goal is to keep the dream of homeownership alive starting with the loan process. We encourage you to read on for basic details about picking your Eden home loan, but also reach out to Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and work to get it in tip-top shape. A less-than-stellar credit score might mean you end up with a higher interest rate on your home loan. On the other hand, a higher credit rating can help you secure a better rate with your potential lender. Your credit score, finances, and and the timing in which you wish to make your move can all affect the type of loan that matches your needs. So, what's out there to choose from?
Different Types of Home Loans in Eden, NC
There are several different types of home loans available to Eden home buyers: 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 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 fall into the government loan category. Credit and salary/wage requirements are usually a little more 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 one of these home loans is a good fit for you? A loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Start with a Preapproval Letter in Eden, NC
Get a Verified Approval Letter from your lender before you begin looking for houses in Eden 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 discuss everything from your potential loan options, credit score, and your Verified Approval letter. It could be the perfect season for you to buy a new house in Eden. 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.