Getting the Home Loan in Washington, NC That's Best for You
Houses aren't one size fits all. The same can be said for home loans in North Carolina. Getting the best fit for you 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 hope you'll keep reading for introductory information about finding a home loan, but also contact a 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 low credit score might mean you'll have a higher interest rate on your mortgage loan. On the flip side, a high credit score can help you negotiate your best rate with a potential lender. Your credit score, financial situation, and the timeframe you wish to make your move can all affect the type of home loan that fits your needs. So, what loans can you pick from?
Different Types of Home Loans in Washington, NC
You may have options when it comes to Washington home loans: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loan could be a great route 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.
FHA loans and VA loans fall into the government loan category. Credit and salary/wage requirements are usually a little more different criteria 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 professional loan officer can help you understand your options and next steps, depending on where you are on your journey.
Start with a Preapproval Letter in Washington, NC
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Washington to demonstrate that you've done your due diligence. 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 seller’s you’re serious about 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 could be the perfect time for you to buy a house in Washington. 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.