Finding Your Fit, Finding Your Beaverton Home Loan
A home isn't a one size fits all kind of thing. Beaverton home loans aren’t either. Getting the best fit for you requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our aim is to transform the homeownership journey into an enjoyable one, beginning with the mortgage loan process. We encourage you to read on for basic 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 try your best to get it in tip-top shape. A poor credit rating might 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 history, financial situation, and the timeframe you'd like to make your move can all be a factor in the type of loan that matches your needs. So, what's out there to choose from?
Different Types of Home Loans in Beaverton, OR
There are several different types of home loans available to Beaverton home buyers: 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 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 loans and VA loans are both classified as government loans. Credit and salary/wage requirements are often laid-back 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 one of these home loans is a good fit for you? A loan officer can help you compare loans and plan your next steps, depending on your position in the process.
Get a Preapproval Letter Before You Shop in Beaverton, OR
Talk to your lender about a Verified Approval Letter. Get one before you start going to Open Houses in Beaverton to indicate 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. It can also show seller’s you’re serious about the home they’re selling. Call the mortgage team at Mr. Cooper now to talk about all things loan-related! We'll walk through 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 Beaverton. 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.