Get Started on Your Erie Home Loan Journey
Homes aren't one size fits all structures. Erie home loans aren’t either. Securing the correct fit for your needs takes some shopping around! That’s where Mr. Cooper can help. Our mission is to turn the homeownership journey into something that's less difficult and more enjoyable, beginning with the mortgage loan process. We hope you'll keep reading for basic information about finding a home loan, but also call a Mr. Cooper mortgage expert with questions about your situation.
As you begin searching for home loans, double check your credit and try your best to improve your score. A less-than-stellar credit score may mean you'll have a higher interest rate on your mortgage loan. On the flip side, a high credit score can help you advocate for your best rate with a lender. Your credit strength, financial situation, and the timeline you wish to make your move can all influence the type of loan that matches your needs. So, what's out there to choose from?
What Home Loan Options Do I Have in Erie, PA?
You may have options when it comes to Erie home loans: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loans might be a good choice 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 are both classified as 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 home loan is right for you? A trained loan officer can help you compare loans and plan your next steps, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Erie, PA
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Erie to indicate 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 seller’s you’re serious about 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 is a great time for buying a home in Erie. What are you waiting for? 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.