Get Started on Your Aloha Home Loan Journey
Houses aren't one size fits all. The same can be said for home loans in Oregon. Finding the right fit for you takes some shopping around! That's where Mr. Cooper comes in. Our mission is to transform the homeownership journey into an enjoyable one, starting with the loan process. We encourage you to continue reading for routine information about finding a home loan, but also call 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 could mean you end up with a higher interest rate on your home loan. On the flip side, a high credit score can help you negotiate your best rate with a potential lender. Your credit score, finances, and and the timeframe you wish to make your move can all impact the type of home loan that fits your needs. So, what's out there to choose from?
Different Types of Home Loans in Aloha, OR
Aloha 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 loan could be a great route 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 than conventional loans. Also, veterans, surviving spouses and active-duty service members 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 your position in the process.
Start with a Preapproval Letter in Aloha, OR
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Aloha to indicate that you've done your due diligence. 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. It can also speed up seller’s you’re serious about the home they’re selling. Give us a call today to discuss everything from your Verified Approval letter to your credit and loan options. It could be the perfect season for you to buy a new house in Aloha. 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.