Finding Your Fit, Finding Your McLean 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 takes some shopping around! That’s where Mr. Cooper can help. Our goal is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to continue reading for basic information about selecting a mortgage loan, but also reach out to 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 might mean you are presented with a higher interest rate on your loan. On the flip side, a higher credit rating can help you secure a better rate with your potential lender. Your credit history, finances, and and the timeframe you wish to make your move can all be a factor in the loan type that aligns with your goals. So, what options are out there for you?
Different Types of Home Loans in McLean, VA
You may have options when it comes to McLean 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 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.
FHA and VA loans are both types of government loans. Income and credit requirements are usually a little more different criteria than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. Which home loan is right for you? A professional Mr. Cooper loan officer can help you get to know your options and what comes next, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in McLean, VA
Secure a Verified Approval Letter from the lender before you start shopping for homes in McLean to demonstrate 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 to sellers you can afford 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 McLean. 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.