On Your Way Toward a New Home Loan in Cheyenne, WY
A home isn't a one size fits all kind of thing. Neither are home loans in Cheyenne. Finding the right fit for you requires some loan-to-loan comparisons! That's where Mr. Cooper comes in. Our goal is to keep the dream of homeownership alive beginning with the mortgage loan process. We encourage you to read on for routine details about picking your Cheyenne home loan, but also reach out to Mr. Cooper mortgage expert with questions about your situation.
Check your credit before you start applying for loans and try your best to get it in tip-top shape. A low credit score might mean you end up with a higher interest rate on your home loan. On the flip side, a higher credit rating can help you negotiate your best rate with a potential lender. Your credit history, finances, and and the timeframe you wish to make your move can all influence the loan type that aligns with your goals. So, what options are out there for you?
What Types of Loans Are There in Cheyenne, WY?
There are several different types of home loans available to Cheyenne home buyers: conventional loans, FHA loans, FHA streamline loans, VA loans, VA Interest Rate Reduction Loans (VA IRRRL), and high balance conforming loans. A conventional loans might be a good choice for you if your credit is healthy, your income and employment history are stable, and you're ready to make a down payment of as little as 3% depending on your situation.
FHA loans and VA loans fall into the government loan category. Credit and salary/wage requirements are often 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. 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 your position in the process.
Get a Preapproval Letter Before You Shop in Cheyenne, WY
Talk to your lender about a Verified Approval Letter. Get one before you begin looking for houses in Cheyenne to show that you've done your due diligence. A Verified Approval Letter shows that your lender has looked at all of your finances and communicated about how much you can buy. It can also show with the real estate agent and seller because they’re 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 could be the perfect time for you to buy a house in Cheyenne. 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.