Finding Your Fit, Finding Your Centreville Home Loan
Houses aren't one size fits all. The same can be said for home loans in Virginia. Getting the best fit for you may require some comparison shopping! That’s where Mr. Cooper can help. Our aim is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the loan process. We encourage you to continue reading for basic information about selecting a mortgage loan, but also contact a Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and try your best to improve your score. A less-than-stellar credit score may mean you end up with a higher interest rate on your home loan. On the other hand, a high credit score can help you advocate for your best rate with a lender. Your credit strength, financial situation, and the timing in which you'd like to make your move can all affect the loan type that aligns with your goals. So, what loans can you pick from?
What Home Loan Options Do I Have in Centreville, VA?
You may have options when it comes to Centreville 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.
VA loans and FHA loans are both classified as government loans. Credit and income requirements tend to have laid-back 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 trained loan officer can help you understand your options and next steps, depending on your position in the process.
Start with a Preapproval Letter in Centreville, VA
Secure a Verified Approval Letter from the lender before you begin looking for houses in Centreville 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 speed up seller’s you’re serious about the home they’re selling. Give us a call today to chat about everything from your Verified Approval letter to your credit and loan options. It could be the perfect season for you to buy a new house in Centreville. 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.