Requirements
Mr. Cooper follows the conforming loan standards for mortgages certified by Fannie Mae and Freddie Mac and those supported by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).
While VA loans (accessible to military veterans, active service members, and their families) occasionally offer no-down-payment choices, all other loan types need a minimum down payment: 3% for conventional loans and 3.5% for FHA loans.
Borrowers with Mr. Cooper typically need a credit score of at least 620 for a conventional loan, 580 in most situations for FHA loans, and 600 for VA loans.
Application details
You can apply for a loan on the company’s website. When you click Apply, you can fill the box with your information. The company will call you during business hours to take your information over the phone. Or, if you are not comfortable with that, you may apply over the phone.
How to apply for a loan
To apply for a mortgage, visit the company’s website and click Apply. Then fill out the box with your personal information and proceed with the registration process. The company’s mortgage professionals will call you during business hours. Or you may apply via phone at 855-375-4001.
