Get Started on Your Lakewood Home Loan Journey
Homes aren't one size fits all structures. Neither are home loans in Lakewood. Finding the right fit for you takes some shopping around! Mr. Cooper can help! Our goal is to transform the homeownership journey into an enjoyable one, beginning with the mortgage loan process. We encourage you to continue reading for basic details about picking your Lakewood home loan, but also call a Mr. Cooper mortgage professional for any questions you may have.
Check your credit before you start applying for loans and try your best to get it in tip-top shape. A less-than-stellar credit score might mean you end up with a higher interest rate on your home loan. On the flip side, a higher credit rating can help you negotiate your best rate with a potential lender. Your credit history, financial state, and the timeframe you'd like to make your move can all affect the type of loan that matches your needs. So, what options are out there for you?
What Home Loan Options Do I Have in Lakewood, WA?
There are several different types of home loans available to Lakewood home buyers: 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.
VA and FHA loans fall into the government loan category. 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 one of these home loans is a good fit for you? A professional Mr. Cooper loan officer can help you compare loans and plan your next steps, depending on your stage in the journey.
Get a Preapproval Letter Before You Shop in Lakewood, WA
Secure a Verified Approval Letter from the lender before you start shopping for homes in Lakewood to indicate 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. Give us a call today to discuss everything from your potential loan options, credit score, and your Verified Approval letter. It could be the perfect season for you to buy a new house in Lakewood. 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.