Getting the Home Loan in Lehi, UT That's Best for You
A home isn't a one size fits all kind of thing. The same can be said for home loans in Utah. Finding the right fit for you may require some comparison shopping! That's where Mr. Cooper comes in. Our goal is to transform the homeownership journey into an enjoyable one, starting with the mortgage loan process. We hope you'll keep reading for introductory details about picking your Lehi home loan, but also call a Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and work to get it in tip-top shape. A low credit score might mean you end up with a higher interest rate on your home loan. On the other hand, a high credit score can help you negotiate your best rate with a potential lender. Your credit score, finances, and and the timeline you're looking to move can all affect the type of home loan that fits your needs. So, what's out there to choose from?
What Home Loan Options Do I Have in Lehi, UT?
Lehi 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 could be a great route 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 are both classified as government loans. Credit and income requirements tend to have different than conventional loans. And if you're a veteran, active-duty service member or surviving spouse, you may be eligible to apply for a VA new home loan. Which home loan is right for you? A loan officer can help you compare loans and plan your next steps, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Lehi, UT
Get a Verified Approval Letter from your lender before you start shopping for homes in Lehi to demonstrate that you've done your due diligence. 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 seller’s you’re serious about the home they’re selling. Give us a call today to chat about everything from your credit, possible loan options and your Verified Approval letter. Now could be the perfect time for you to buy a house in Lehi. 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.