Get Started on Your Woodburn Home Loan Journey
Houses aren't one size fits all. Neither are home loans in Woodburn. Getting the best fit for you requires some loan-to-loan comparisons! That’s where Mr. Cooper can help. Our aim is to keep the dream of homeownership alive starting with the loan process. We encourage you to continue reading for basic information about finding a home loan, but also reach out to Mr. Cooper mortgage expert with questions about your situation.
Check your credit before you start applying for loans and work to get it in tip-top shape. A not-so-great credit score may mean you end up with a higher interest rate on your home loan. On the other hand, a higher credit rating can help you secure a better rate with your potential lender. Your credit history, financial situation, and the timing in which you wish to make your move can all influence the type of home loan that fits your needs. So, what's out there to choose from?
What Home Loan Options Do I Have in Woodburn, OR?
Woodburn 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 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.
FHA and VA loans fall into the government loan category. Credit and income requirements are often 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. How do you know which home loan is the best for you? A professional Mr. Cooper loan officer can help you compare loans and plan your next steps, depending on where you are on your journey.
Start with a Preapproval Letter in Woodburn, OR
Get a Verified Approval Letter from your lender before you begin looking for houses in Woodburn to show that you've done your due diligence. 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 buy the home they’re selling. Give us a call 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 Woodburn. 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.