On Your Way Toward a New Home Loan in Wausau, WI
Houses aren't one size fits all. The same can be said for home loans in Wisconsin. Securing the correct fit for your needs may require some comparison shopping! That's where Mr. Cooper comes in. Our mission is to keep the dream of homeownership alive beginning with the mortgage 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 improve your score. A not-so-great credit score may mean you'll have a higher interest rate on your mortgage loan. On the flip side, a high credit score can help you advocate for your best rate with a lender. Your credit score, finances, and and the timeframe you're looking to move can all affect the loan type that aligns with your goals. So, what loans can you pick from?
Different Types of Home Loans in Wausau, WI
Wausau 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 loans might be a good choice 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.
FHA and VA loans are both classified as government loans. Credit and income requirements tend to have laid-back than conventional loans. Also, veterans, surviving spouses and active-duty service members may be eligible to apply for VA new home loans. How do you know which home loan is the best for you? A professional loan officer can help you compare loans and plan your next steps, depending on where you are on your journey.
Begin in Wausau, WI with a Preapproval Letter
Secure a Verified Approval Letter from the lender before you start going to Open Houses in Wausau 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. The letter can also carry more weight with the real estate agent and seller because they know you can afford the home. Call the mortgage team at Mr. Cooper today to discuss everything from your Verified Approval letter to your credit and loan options. It could be the perfect season for you to buy a new house in Wausau. 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.