Getting the Home Loan in South Ogden, UT That's Best for You
Houses aren't one size fits all. 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 keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to read on for routine information about selecting a mortgage 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 try your best to get it in tip-top shape. A poor credit rating may mean you are presented with a higher interest rate on your loan. On the other hand, a higher credit rating can help you advocate for your best rate with a lender. Your credit strength, finances, and and the timeline you're looking to move can all impact the loan type that aligns with your goals. So, what options are out there for you?
What Home Loan Options Do I Have in South Ogden, UT?
There are several different types of home loans available to South Ogden home buyers: 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 fall into the government loan category. Credit and salary/wage requirements are often different criteria 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 compare loans and plan your next steps, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in South Ogden, UT
Secure a Verified Approval Letter from the lender before you begin looking for houses in South Ogden to demonstrate that you've done your due diligence. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. The letter can also carry more weight to sellers you can afford the home they’re selling. Give us a call today to chat about everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in South Ogden. What are you waiting for? 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.