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Apply for a Home Loan in Philadelphia, PA

For all your Philadelphia home loan needs, call Mr. Cooper. We're your purchase and refinance partner in Pennsylvania.

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Getting the Home Loan in Philadelphia, PA That's Best for You

Houses aren't one size fits all. Neither are home loans in Philadelphia. 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 mortgage loan process. We encourage you to read on for routine details about picking your Philadelphia home loan, but also contact a Mr. Cooper mortgage professional for any questions you may have.

Check your credit before you start applying for loans and try your best to improve your score. A less-than-stellar credit score could mean you'll have a higher interest rate on your mortgage loan. On the other hand, a high credit score can help you secure a better rate with your potential lender. Your credit history, finances, and 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 options are out there for you?

What Home Loan Options Do I Have in Philadelphia, PA?

You may have options when it comes to Philadelphia 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.

FHA and VA loans are both classified as government loans. Income and credit requirements are usually a little more laid-back 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 trained loan officer can help you understand your options and next steps, depending on where you are on your journey.

Start with a Preapproval Letter in Philadelphia, PA

Talk to your lender about a Verified Approval Letter. Get one before you start going to Open Houses in Philadelphia to indicate that you really do intend to buy. A Verified Approval Letter is proof that your finances have been reviewed by the lender, and you have an estimate of how much you can buy. It can also show to sellers you can afford 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 Philadelphia. Call now to get the super-smart help you want!

Mr. Cooper Reviews for Philadelphia, PA

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