On Your Way Toward a New Home Loan in Grants Pass, OR
A home isn't a one size fits all kind of thing. The same can be said for home loans in Oregon. Securing the correct fit for your needs 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 encourage you to continue reading for general information about selecting a mortgage 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 try your best to improve your score. A not-so-great credit score could mean you'll have a higher interest rate on your mortgage loan. On the other hand, a strong credit score can help you negotiate your best rate with a potential lender. Your credit strength, finances, and and the timing in which you wish to make your move can all impact the type of loan that matches your needs. So, what's out there to choose from?
Different Types of Home Loans in Grants Pass, OR
Grants Pass 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 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 and VA loans are both classified as government loans. Credit and income requirements are often 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 loan officer can help you compare loans and plan your next steps, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Grants Pass, OR
Get a Verified Approval Letter from your lender before you begin looking for houses in Grants Pass to show that you're serious about buying a home. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. The letter can also carry more weight to sellers you can afford the home they’re selling. Call the mortgage team at Mr. Cooper today to chat about everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in Grants Pass. What are you waiting for? 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.