Finding Your Fit, Finding Your Hatboro Home Loan
Houses aren't one size fits all. Hatboro home loans aren’t either. Securing the correct fit for your needs takes some shopping around! That’s where Mr. Cooper can help. Our aim is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to read on for basic information about selecting a mortgage loan, but also contact a Mr. Cooper mortgage expert with questions about your situation.
As you start looking for loans, check your credit and try your best to get it in tip-top shape. A poor credit rating might mean you end up with a higher interest rate on your home 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'd like to make your 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 Hatboro, PA
Hatboro home buyers have more than one type of home loan to choose from. There are: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). A conventional loan may be the perfect option 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 fall into the government loan category. Income and credit requirements tend to have laid-back than conventional loans. Also, veterans, surviving spouses and active-duty service members 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 get to know your options and what comes next, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Hatboro, PA
Talk to your lender about a Verified Approval Letter. Get one before you start going to Open Houses in Hatboro to demonstrate that you're a serious buyer. 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. The letter can also carry more weight seller’s you’re serious about the home they’re selling. Give us a call today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. Now could be the perfect time for you to buy a house in Hatboro. 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.