Getting the Home Loan in Riverton, UT That's Best for You
Homes aren't one size fits all structures. Riverton home loans aren’t either. Getting the best fit for you requires some loan-to-loan comparisons! That’s where Mr. Cooper can help. Our goal is to transform the homeownership journey into an enjoyable one, starting with the loan process. We encourage you to continue reading for routine details about picking your Riverton home loan, but also contact a Mr. Cooper mortgage professional for any questions you may have.
As you start looking for loans, check your credit and try your best to get it in tip-top shape. A poor credit rating may mean you end up with a higher interest rate on your home loan. On the flip side, a higher credit rating can help you advocate for your best rate with a lender. Your credit score, financial state, and the timeframe you wish to make your move can all affect the loan type that aligns with your goals. So, what options are out there for you?
Different Types of Home Loans in Riverton, UT
Riverton 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 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 loans and FHA loans are both types of government loans. Income and credit requirements are often 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 understand your options and next steps, depending on your stage in the journey.
Start with a Preapproval Letter in Riverton, UT
Get a Verified Approval Letter from your lender before you start going to Open Houses in Riverton to show that you're a serious buyer. 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 with the real estate agent and seller because they know you can afford the home. Contact a Mr. Cooper mortgage professional today to chat about 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 Riverton. 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.