Finding Your Fit, Finding Your Radford 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! That's where Mr. Cooper comes in. Our aim is to transform the homeownership journey into an enjoyable one, beginning with the mortgage loan process. We hope you'll keep reading for routine details about picking your Radford home loan, but also call a Mr. Cooper professional with any mortgage questions you might have.
As you start looking for loans, check your credit and try your best to get it in tip-top shape. A low credit score might mean you end up with a higher interest rate on your home loan. On the other hand, a strong credit score can help you negotiate your best rate with a potential lender. Your credit score, finances, and and the timing in which you wish to make your move can all influence the loan type that aligns with your goals. So, what's out there to choose from?
What Types of Loans Are There in Radford, VA?
Radford 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 could be a great route 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 classified as government loans. Income and credit requirements are often 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 trained loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Start with a Preapproval Letter in Radford, VA
Secure a Verified Approval Letter from the lender before you begin looking for houses in Radford to indicate that you're a serious buyer. 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 with the real estate agent and seller because they know you can afford the home. Give us a call today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. Now could be the perfect time for you to buy a house in Radford. 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.