Finding Your Fit, Finding Your East Highland Park Home Loan
Homes aren't one size fits all structures. The same can be said for home loans in Virginia. Securing the correct fit for your needs takes some shopping around! Mr. Cooper can help! Our aim is to transform the homeownership journey into an enjoyable one, starting with the mortgage loan process. We encourage you to read on for introductory information about selecting a mortgage 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 improve your score. A less-than-stellar credit score might mean you'll have a higher interest rate on your mortgage loan. On the flip side, a higher credit rating can help you negotiate your best rate with a potential lender. Your credit history, financial situation, and the timeframe 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?
Different Types of Home Loans in East Highland Park, VA
East Highland Park home buyers have more than one type of home loan to choose from. There are: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loan may be the perfect option for you if your income and employment history are stable, your credit is healthy, and you're going to make a down payment of at least 3% depending on your situation.
FHA and VA loans are both classified as government loans. Credit and salary/wage requirements are often laid-back than conventional loans. Also, veterans, surviving spouses and active-duty service members 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 stage in the journey.
Begin in East Highland Park, VA with a Preapproval Letter
Get a Verified Approval Letter from your lender before you start shopping for homes in East Highland Park to show that you're serious about buying a home. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. It can also speed up to sellers you can afford the home they’re selling. Contact a Mr. Cooper mortgage professional 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 East Highland Park. 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.