On Your Way Toward a New Home Loan in Indian Trail, NC
A home isn't a one size fits all kind of thing. Indian Trail home loans aren’t either. Finding the right fit for you takes some shopping around! Mr. Cooper can help! Our goal is to transform the homeownership journey into an enjoyable one, starting with the loan process. We hope you'll keep reading for introductory information about selecting a mortgage loan, but also contact a Mr. Cooper mortgage expert with questions about your situation.
As you start looking for loans, check your credit and work to get it in tip-top shape. 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 strength, finances, and and the timeframe you wish to make your move can all affect the type of loan that matches your needs. So, what loans can you pick from?
What Types of Loans Are There in Indian Trail, NC?
Indian Trail home buyers have more than one type of home loan to choose from. There are: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline 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 loans and FHA loans are both types of government loans. 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 home loan is right for you? A professional loan officer can help you get to know your options and what comes next, depending on your position in the process.
Begin in Indian Trail, NC with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start shopping for homes in Indian Trail to demonstrate 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 to sellers you can afford the home they’re selling. Give us a call today to discuss everything from your credit, possible loan options and your Verified Approval letter. Now could be the perfect time for you to buy a house in Indian Trail. 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.