On Your Way Toward a New Home Loan in Puyallup, WA
Houses aren't one size fits all. Neither are home loans in Puyallup. Finding the right fit for you 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, beginning with the mortgage loan process. We encourage you to continue reading for basic details about picking your Puyallup 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 may mean you are presented with a higher interest rate on your loan. On the flip side, a higher credit rating can help you secure a better rate with your potential lender. Your credit history, financial situation, and the timing in which you wish to make your move can all be a factor in the type of home loan that fits your needs. So, what loans can you pick from?
Different Types of Home Loans in Puyallup, WA
You may have options when it comes to Puyallup home loans: 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.
VA loans and FHA loans fall into the government loan category. Income and credit requirements tend to have laid-back 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 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 Puyallup, WA
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Puyallup to indicate that you're serious about buying a home. 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. The letter can also carry more weight to sellers you can buy the home they’re selling. Contact a Mr. Cooper mortgage professional today to chat about everything from your credit, possible loan options and your Verified Approval letter. Now is a great time for buying a home in Puyallup. 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.