Get Started on Your Arlington Home Loan Journey
Homes aren't one size fits all structures. Neither are home loans in Arlington. Getting the best fit for you requires some loan-to-loan comparisons! That’s where Mr. Cooper can help. Our goal is to turn the homeownership journey into something that's less difficult and more enjoyable, starting with the mortgage loan process. We encourage you to continue reading for introductory details about picking your Arlington home 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 work to get it in tip-top shape. A low credit score might mean you'll have a higher interest rate on your mortgage loan. On the other hand, a strong credit score can help you advocate for your best rate with a lender. Your credit strength, finances, and and the timeframe you'd like to make your move can all affect the loan type that aligns with your goals. So, what options are out there for you?
Different Types of Home Loans in Arlington, WA
Arlington home buyers have more than one type of home loan to choose from. There are: conventional loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), VA loans, FHA loans, and FHA streamline loans. A conventional loan could be a great route 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.
VA loans and FHA loans are both types of government loans. Credit and salary/wage requirements are often laid-back than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. Which one of these home loans is a good fit for you? A professional Mr. Cooper loan officer can help you understand your options and next steps, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Arlington, WA
Talk to your lender about a Verified Approval Letter. Get one before you start shopping for homes in Arlington 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. The letter can also carry more weight to sellers you can buy the home they’re selling. Call the mortgage team at Mr. Cooper now to talk about all things loan-related! We'll walk through 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 Arlington. 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.