Getting the Home Loan in Graham, NC That's Best for You
A home isn't a one size fits all kind of thing. Graham home loans aren’t either. Getting the best fit for you may require some comparison shopping! Mr. Cooper can help! Our aim is to keep the dream of homeownership alive starting with the loan process. We encourage you to read on for introductory information about selecting a mortgage loan, but also reach out to Mr. Cooper mortgage expert with questions about your situation.
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 are presented with a higher interest rate on your loan. On the flip side, a higher credit rating 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 type of loan that matches your needs. So, what options are out there for you?
What Home Loan Options Do I Have in Graham, NC?
You may have options when it comes to Graham 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 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 and VA loans are both classified as government loans. Credit and salary/wage requirements are often different than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A trained loan officer can help you get to know your options and what comes next, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Graham, NC
Secure a Verified Approval Letter from the lender before you start shopping for homes in Graham to indicate that you're serious about buying a home. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. The letter can also carry more weight 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. It could be the perfect season for you to buy a new house in Graham. 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.