Getting the Home Loan in Happy Valley, OR That's Best for You
Homes aren't one size fits all structures. 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 can help. Our mission is to keep the dream of homeownership alive starting with the loan process. We hope you'll keep reading for introductory details about picking your Happy Valley home loan, but also call a Mr. Cooper professional with any mortgage questions you might have.
Check your credit before you start applying for loans and try your best to improve your score. A less-than-stellar credit score may mean you'll have a higher interest rate on your mortgage loan. On the flip side, a strong credit score can help you secure a better rate with your potential lender. Your credit history, financial state, and the timeline you're looking to move can all influence the type of home loan that fits your needs. So, what loans can you pick from?
Different Types of Home Loans in Happy Valley, OR
You may have options when it comes to Happy Valley home loans: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loan may be the perfect option 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.
VA loans and FHA loans are both classified as government loans. Income and credit requirements are often different 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. How do you know which home loan is the best for you? A loan officer can help you get to know your options and what comes next, depending on your position in the process.
Begin in Happy Valley, OR with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Happy Valley 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. It can also show to sellers you can buy the home they’re selling. Contact a Mr. Cooper mortgage professional today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. It could be the perfect season for you to buy a new house in Happy Valley. 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.