On Your Way Toward a New Home Loan in Burien, WA
A home isn't a one size fits all kind of thing. Neither are home loans in Burien. Securing the correct fit for your needs requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our mission 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 read on for general information about finding a home loan, but also call 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 get it in tip-top shape. A not-so-great credit score might mean you'll have a higher interest rate on your mortgage loan. On the flip side, a strong credit score can help you secure a better rate with your potential lender. Your credit strength, financial situation, and the timeline you'd like to make your move can all impact the type of loan that matches your needs. So, what loans can you pick from?
What Types of Loans Are There in Burien, WA?
Burien home buyers have more than one type of home loan to choose from. There are: 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 classified as government loans. Credit and salary/wage requirements tend to have different 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 loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Begin in Burien, WA with a Preapproval Letter
Get a Verified Approval Letter from your lender before you start going to Open Houses in Burien to demonstrate 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 buy 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 Burien. 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.