Finding Your Fit, Finding Your Scranton Home Loan
Houses aren't one size fits all. The same can be said for home loans in Pennsylvania. Securing the correct fit for your needs takes some shopping around! That's where Mr. Cooper comes in. Our goal is to keep the dream of homeownership alive starting with the loan process. We hope you'll keep reading for basic information about selecting a mortgage loan, but also reach out to Mr. Cooper professional with any mortgage questions you might have.
Check your credit before you start applying for loans and try your best to get it in tip-top shape. A not-so-great credit score might mean you are presented with a higher interest rate on your loan. On the other hand, a strong credit score can help you negotiate your best rate with a potential lender. Your credit strength, finances, and and the timing in which you'd like to make your move can all affect the type of home loan that fits your needs. So, what's out there to choose from?
What Types of Loans Are There in Scranton, PA?
You may have options when it comes to Scranton home loans: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loans might be a good choice 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 and FHA loans are both classified as government loans. Credit and income requirements are often 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 understand your options and next steps, depending on your position in the process.
Begin in Scranton, PA with a Preapproval Letter
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in Scranton to indicate 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 show to sellers you can afford the home they’re selling. 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 Scranton. 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.