Get Started on Your Johnstown Home Loan Journey
Homes aren't one size fits all structures. The same can be said for home loans in Pennsylvania. Getting the best fit for you may require some comparison shopping! Mr. Cooper can help! Our aim is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the loan process. We hope you'll keep reading for introductory information about selecting a mortgage loan, but also reach out to Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and try your best to get it in tip-top shape. A poor credit rating may mean you are presented with a higher interest rate on your loan. On the other hand, a high credit score can help you negotiate your best rate with a potential lender. Your credit strength, financial state, and the timeframe you wish to make your move can all influence the type of home loan that fits your needs. So, what loans can you pick from?
Different Types of Home Loans in Johnstown, PA
There are several different types of home loans available to Johnstown home buyers: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. 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.
FHA and VA loans fall into the government loan category. Credit and income 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 one of these home loans is a good fit for you? A trained loan officer can help you understand your options and next steps, depending on your position in the process.
Begin in Johnstown, PA with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you begin looking for houses in Johnstown to show that you really do intend to buy. 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 with the real estate agent and seller because they know you can afford the home. Call the mortgage team at Mr. Cooper 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 Johnstown. Get started with the help you need!
- 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.