Finding Your Fit, Finding Your Marshfield Home Loan
A home isn't a one size fits all kind of thing. Neither are home loans in Marshfield. Securing the correct fit for your needs takes some shopping around! Mr. Cooper can help! Our mission is to keep the dream of homeownership alive starting with the mortgage loan process. We encourage you to continue reading for introductory information about selecting a mortgage loan, but also call a Mr. Cooper professional with any mortgage questions you might have.
Check your credit before you start applying for loans and work to get it in tip-top shape. A not-so-great credit score may mean you'll have a higher interest rate on your mortgage loan. On the flip side, a higher credit rating can help you secure a better rate with your potential lender. Your credit strength, financial state, and the timeline 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?
What Types of Loans Are There in Marshfield, WI?
Marshfield 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 could be a great route for you if your income and employment history are stable, your credit is healthy, and you're going to make a down payment of at least 3% depending on your situation.
VA loans and FHA loans fall into the government loan category. Income and credit requirements tend to have laid-back than conventional loans. Also, active-duty service members, veterans and surviving spouses may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A professional Mr. Cooper loan officer can help you understand your options and next steps, depending on your position in the process.
Get a Preapproval Letter Before You Shop in Marshfield, WI
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Marshfield to show 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. It can also show with the real estate agent and seller because they know you can afford the home. Give us a call today to chat about everything from your potential loan options, credit score, and your Verified Approval letter. Now is a great time for buying a home in Marshfield. 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.