On Your Way Toward a New Home Loan in West Falls Church, VA
Houses aren't one size fits all. The same can be said for home loans in Virginia. Getting the best fit for you requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our aim is to keep the dream of homeownership alive starting with the mortgage loan process. We hope you'll keep reading for general 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 improve your score. A low credit score could mean you are presented with a higher interest rate on your loan. On the flip side, a high credit score can help you negotiate your best rate with a potential lender. Your credit strength, financial situation, and the timeframe you'd like to make your move can all be a factor in the type of home loan that fits your needs. So, what options are out there for you?
What Types of Loans Are There in West Falls Church, VA?
You may have options when it comes to West Falls Church home loans: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loans might be a good choice 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 income requirements are often different criteria than conventional loans. And if you're a veteran, active-duty service member or surviving spouse, you may be eligible to apply for a VA new home loan. Which home loan is right for you? A professional Mr. Cooper loan officer can help you compare loans and plan your next steps, depending on where you are on your journey.
Begin in West Falls Church, VA with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start shopping for homes in West Falls Church to demonstrate that you've done your due diligence. 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 show with the real estate agent and seller because they know you can afford the home. Call the mortgage team at Mr. Cooper today to discuss everything from your credit, possible loan options and your Verified Approval letter. It could be the perfect season for you to buy a new house in West Falls Church. 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.