Learn How to Better Afford a Home in Prattville, AL

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

Help make sure your home isn't a source of financial stress. 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 you can afford to buy a home in Prattville, and when it might be better to wait until your situation changes. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to streamline the process.

Examine your finances. Look at the whole picture. How do you feel about your current monthly expenses, credit history, and savings? A quick check-in with yourself can get you on the right path. A good way to begin your Prattville 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 play with some real numbers. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can estimate about how much house you can afford in Prattville based on income or your desired maximum monthly mortgage payment. Will this number get you into the Prattville home or neighborhood you've had your eye on? If not, consider buying a house in a surrounding area or boosting 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 Prattville. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's the result of some financial details you provide and a credit check. Prequalification is also an opportunity to learn more about your various mortgage options and determine which one is right for you. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Prattville, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected purchase price and down payment. Provide a few more personal details and you're almost prequalified. The process is straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Prattville, don't forget to budget your time, too. Minutes and seconds are things you never get back, and looking for the perfect home in Prattville can be time-consuming. Partner with a real estate agent in Prattville who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Prattville and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. Estimate how much you may be able to save on real estate commissions and closing costs with Mr. Cooper’s Real Estate Rewards calculator.

Applying for a home loan is the final step in getting your finances ready for a home purchase. Can you see the finish line? Let a home loan servicer like Mr. Cooper guide you in the process and you'll gain the distinct advantage of one-on-one support all along the way—from loan to closing. 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! Call now and let us help you ready your finances to buy a house in Prattville. The path to homeownership is right in front of you!

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