On Your Way Toward a New Home Loan in Sherwood, OR
Houses aren't one size fits all. Sherwood home loans aren’t either. Finding the right fit for you may require some comparison shopping! Mr. Cooper can help! Our goal is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the loan process. We encourage you to continue reading for general details about picking your Sherwood home loan, but also contact 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 low credit score might mean you are presented with a higher interest rate on your loan. On the flip side, a high credit score can help you negotiate your best rate with a potential lender. Your credit strength, financial situation, and the timeline you're looking to move can all affect the loan type that aligns with your goals. So, what loans can you pick from?
Different Types of Home Loans in Sherwood, OR
Sherwood 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 loan may be the perfect option 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.
VA loans and FHA loans fall into the government loan category. Credit and salary/wage requirements are usually a little more 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 professional Mr. Cooper loan officer can help you understand your options and next steps, depending on your position in the process.
Begin in Sherwood, OR with a Preapproval Letter
Get a Verified Approval Letter from your lender before you begin looking for houses in Sherwood to demonstrate 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. 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 credit, possible loan options and your Verified Approval letter. Now is a great time for buying a home in Sherwood. 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.