Finding Your Fit, Finding Your Flourtown Home Loan
A home isn't a one size fits all kind of thing. Flourtown home loans aren’t either. Finding the right fit for you takes some shopping around! That's where Mr. Cooper comes in. Our aim is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to continue reading for routine information about finding a home loan, but also contact a Mr. Cooper mortgage professional for any questions you may have.
As you begin searching for home loans, double check your credit and try your best to get it in tip-top shape. A low credit score could mean you end up with a higher interest rate on your home loan. On the flip side, a strong credit score can help you negotiate your best rate with a potential lender. Your credit history, finances, and and the timeframe you'd like to make your move can all impact the type of home loan that fits your needs. So, what's out there to choose from?
Different Types of Home Loans in Flourtown, PA
Flourtown 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.
FHA loans and VA loans are both classified as government loans. Income and credit requirements tend to have different criteria than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. Which home loan is right for you? A loan officer can help you understand your options and next steps, depending on your position in the process.
Start with a Preapproval Letter in Flourtown, PA
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Flourtown to show 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 to sellers you can afford the home they’re selling. Contact a Mr. Cooper mortgage professional now to talk about all things loan-related! We'll walk through 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 Flourtown. 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.