Learn How to Better Afford a Home in Athens, AL

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Your Step-by-Step Guide to Afford to Buy a House in Athens, AL

Your home should be a retreat from the worries of the world, not a place where new worries begin. A great way to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Know when it might be better to wait until your situation improves and when you're in a financially strong enough position to buy a home in Athens. Get started with the following steps and reach out to a Mr. Cooper Mortgage Professional to talk strategy.

Evaluate every angle of your finances. What are your general thoughts about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A solid way to start your Athens home buying journey is with a healthy credit history, a good handle on your current expenses, and enough savings for a minimum 20% down payment.

Now, let's put some real numbers down. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can calculate how much house you can afford in Athens based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Athens home you've been dreaming about? If not, consider looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!

It's the right time to prequalify for a house in Athens. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's calculated based on a credit check and a couple of financial details you provide. Prequalification is also a chance to learn about your mortgage options and work with your lender to find the right fit. Start with Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Athens, the type of property you’d like to buy, how you plan on using the property, and if you’re currently working with a real estate agent. Enter your expected purchase price and down payment. Share a couple more personal details and you’re on your way to getting prequalified. The process is simple and your prequalification lasts 120 days.

Don't forget to budget your time when doing the math on how you can afford to buy a house in Athens. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Athens home can really eat up the hours. Turn to a real estate agent in Athens who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Athens and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. Get an idea of how much you might be able to save on closing costs and real estate commissions with Mr. Cooper’s Real Estate Rewards calculator.

The last step in preparing your finances to buy a house in Athens is to apply for a home loan. Can you see the finish line? Let a home loan servicer like Mr. Cooper guide you in the process and you'll receive one-on-one support throughout the home loan, purchase, and closing process. Call Mr. Cooper Mortgage Professionals today. They're pros when it comes to what it takes to buy a house and will work hard to find the right loan for you.

Your dream home, or as we like to say, "The One" is waiting for you! Get your finances ready to buy a home in Athens and give us a call. The path to homeownership is right in front of you!

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