Finding Your Fit, Finding Your Magna Home Loan
Houses aren't one size fits all. Magna home loans aren’t either. Getting the best fit for you takes some shopping around! Mr. Cooper can help! Our mission is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to continue reading for basic details about picking your Magna home loan, but also contact a Mr. Cooper professional with any mortgage questions you might have.
As you begin searching for home loans, double check your credit and work to get it in tip-top shape. A less-than-stellar credit score may mean you are presented with a higher interest rate on your loan. On the flip side, a high credit score can help you secure a better rate with your potential lender. Your credit history, financial state, and the timing in which you'd like to make your move can all be a factor in the loan type that aligns with your goals. So, what's out there to choose from?
What Types of Loans Are There in Magna, UT?
You may have options when it comes to Magna home loans: conventional loans, FHA streamline loans, FHA loans, high balance conforming loans, VA loans, and VA Interest Rate Reduction Loans (VA IRRRL). 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 fall into the government loan category. Credit and salary/wage requirements tend to have different than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A professional loan officer can help you get to know your options and what comes next, depending on your position in the process.
Get a Preapproval Letter Before You Shop in Magna, UT
Get a Verified Approval Letter from your lender before you start going to Open Houses in Magna to show that you really do intend to buy. 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 seller’s you’re serious about the home they’re selling. Give us a call today to discuss everything from your Verified Approval letter to your credit and loan options. Now is a great time for buying a home in Magna. What are you waiting for? 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.