Finding Your Fit, Finding Your Burlington Home Loan
Homes aren't one size fits all structures. Burlington home loans aren’t either. Finding the right fit for you may require some comparison shopping! That's where Mr. Cooper comes in. Our mission is to keep the dream of homeownership alive starting with the loan process. We encourage you to read on for basic details about picking your Burlington 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 less-than-stellar credit score may mean you are presented with a higher interest rate on your loan. On the other hand, a higher credit rating can help you advocate for your best rate with a lender. Your credit strength, financial situation, and the timeframe you're looking to move can all influence the type of loan that matches your needs. So, what's out there to choose from?
Different Types of Home Loans in Burlington, WI
Burlington 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 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 are both types of government loans. 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 loan officer can help you get to know your options and what comes next, depending on where you are on your journey.
Get a Preapproval Letter Before You Shop in Burlington, WI
Secure a Verified Approval Letter from the lender before you begin looking for houses in Burlington to indicate that you really do intend to buy. A Verified Approval Letter is proof that your finances have been reviewed by the lender, and you have an estimate of how much you can buy. It can also speed up with the real estate agent and seller because they know you can afford the home. Call the mortgage team at Mr. Cooper today to chat about 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 Burlington. See how we can help you navigate your next home-buying experience!
- 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.