Getting the Home Loan in Prineville, OR That's Best for You
Houses aren't one size fits all. Prineville home loans aren’t either. Securing the correct fit for your needs requires some loan-to-loan comparisons! Mr. Cooper can help! Our mission is to keep the dream of homeownership alive starting with the mortgage loan process. We hope you'll keep reading for general information about finding a home loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
As you begin searching for home loans, double check your credit and try your best to improve your score. A poor credit rating might mean you are presented with a higher interest rate on your loan. On the flip side, a strong credit score can help you negotiate your best rate with a potential lender. Your credit score, finances, and and the timing in which you'd like to make your move can all affect the type of loan that matches your needs. So, what's out there to choose from?
Different Types of Home Loans in Prineville, OR
Prineville home buyers have more than one type of home loan to choose from. There are: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). A conventional loan may be the perfect option for you if you're ready to make a down payment of at least 3% (depending on your situation), your credit is healthy, and your income and employment history are stable.
VA loans and FHA loans are both types of government loans. Credit and income requirements tend to have 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 professional loan officer can help you get to know your options and what comes next, depending on your stage in the journey.
Begin in Prineville, OR with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you start going to Open Houses in Prineville to indicate that you're serious about buying a home. 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 to sellers you can buy the home they’re selling. Contact a Mr. Cooper mortgage professional today to chat about everything from your potential loan options, credit score, and your Verified Approval letter. Now could be the perfect time for you to buy a house in Prineville. 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.