Getting the Home Loan in Drexel Hill, PA That's Best for You
A home isn't a one size fits all kind of thing. Neither are home loans in Drexel Hill. Finding the right fit for you takes some shopping around! Mr. Cooper can help! Our mission is to keep the dream of homeownership alive starting with the loan process. We encourage you to continue reading for routine details about picking your Drexel Hill home loan, but also call a Mr. Cooper mortgage expert with questions about your situation.
Check your credit before you start applying for loans and try your best to improve your score. A poor credit rating could mean you are presented with a higher interest rate on your loan. On the flip side, a strong credit score can help you advocate for your best rate with a lender. Your credit strength, financial state, and the timing in which you'd like to make your move can all impact the type of home loan that fits your needs. So, what loans can you pick from?
Different Types of Home Loans in Drexel Hill, PA
You may have options when it comes to Drexel Hill 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 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.
VA loans and FHA loans are both types of government loans. Income and credit requirements tend to have laid-back than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A loan officer can help you understand your options and next steps, depending on your stage in the journey.
Begin in Drexel Hill, PA with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in Drexel Hill 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 speed up with the real estate agent and seller because they’re know you can afford the home. Contact a Mr. Cooper mortgage professional today to chat about everything from your credit, possible loan options and your Verified Approval letter. It could be the perfect season for you to buy a new house in Drexel Hill. 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.