Finding Your Fit, Finding Your La Grande Home Loan
Homes aren't one size fits all structures. Neither are home loans in La Grande. Securing the correct fit for your needs takes some shopping around! Mr. Cooper can help! Our aim is to keep the dream of homeownership alive starting with the loan process. We hope you'll keep reading for basic information about selecting a mortgage 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 work to get it in tip-top shape. A less-than-stellar credit score might mean you are presented with a higher interest rate on your loan. On the other hand, a strong credit score can help you secure a better rate with your potential lender. Your credit strength, financial situation, and the timing in which you're looking to move can all influence the type of loan that matches your needs. So, what loans can you pick from?
What Home Loan Options Do I Have in La Grande, OR?
La Grande home buyers have more than one type of home loan to choose from. There are: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loans might be a good choice 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 and FHA loans are both types of government loans. Income and credit requirements are often different criteria than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which home loan is right for you? A loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Start with a Preapproval Letter in La Grande, OR
Get a Verified Approval Letter from your lender before you start shopping for homes in La Grande to show that you're a serious buyer. 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 show with the real estate agent and seller because they know you can afford the home. Call the mortgage team at Mr. Cooper today to chat about everything from your Verified Approval letter to your credit and loan options. Now could be the perfect time for you to buy a house in La Grande. 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.