On Your Way Toward a New Home Loan in Marion, OH
A home isn't a one size fits all kind of thing. Neither are home loans in Marion. Getting the best fit for you may require some comparison shopping! Mr. Cooper can help! Our aim is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the loan process. We hope you'll keep reading for general information about selecting a mortgage loan, but also reach out to Mr. Cooper professional with any mortgage questions you might have.
As you start looking for loans, check your credit and try your best to improve your score. A not-so-great credit score could mean you end up with a higher interest rate on your home loan. On the other hand, a high credit score can help you advocate for your best rate with a lender. Your credit history, financial state, and the timeframe you're looking to move can all be a factor in the type of home loan that fits your needs. So, what's out there to choose from?
What Types of Loans Are There in Marion, OH?
There are several different types of home loans available to Marion home buyers: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). A conventional loan may be the perfect option 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.
VA loans and FHA loans fall into the government loan category. Credit and income requirements are usually a little more laid-back than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. 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.
Get a Preapproval Letter Before You Shop in Marion, OH
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Marion to indicate that you're a serious buyer. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. It can also speed up 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 Marion. 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.