On Your Way Toward a New Home Loan in Sequim, WA
Houses aren't one size fits all. The same can be said for home loans in Washington. Finding the right fit for you may require some comparison shopping! Mr. Cooper can help! Our goal is to transform the homeownership journey into an enjoyable one, starting with the loan process. We encourage you to continue reading for introductory information about selecting a mortgage loan, but also reach out to Mr. Cooper mortgage professional for any questions you may have.
As you begin searching for home loans, double check your credit and try your best to get it in tip-top shape. A low credit score could mean you are presented with a higher interest rate on your loan. On the flip side, a strong credit score can help you advocate for your best rate with a lender. Your credit score, financial situation, and the timing in which you wish to make your move can all influence the type of loan that matches your needs. So, what options are out there for you?
What Types of Loans Are There in Sequim, WA?
Sequim 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 may be the perfect option 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 often different than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. Which home loan is right for you? A professional Mr. Cooper loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Begin in Sequim, WA with a Preapproval Letter
Get a Verified Approval Letter from your lender before you start going to Open Houses in Sequim 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 speed up to sellers you can buy the home they’re selling. Call the mortgage team at Mr. Cooper 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 Sequim. What are you waiting for? 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.