How to Afford to Buy a House in Paradise Valley, AZ

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Steps to Afford to Buy a Home in Paradise Valley, AZ

You want your home to be a haven of happiness, not a financial burden. A good way to ensure that happens is to ready your finances beforehand. Be honest with yourself to determine if you can afford to buy a house in Paradise Valley, or if you should hold off until your situation is different. Start the process with the following steps and reach out to a Mr. Cooper Mortgage Professional to discuss strategy.

Evaluate every angle of your finances. What are your general thoughts about your current monthly expenses, credit history, and savings? A quick check-in with yourself can get you on the right path. A solid way to start your Paradise Valley 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. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can get an idea of how much house you can afford to buy in Paradise Valley based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Paradise Valley home you've been dreaming about? If not, think about buying a house in a surrounding area or boosting your down payment. If it's a good number, then call Mr. Cooper. It's time to move on to the next step in the homeownership journey!

It's time to prequalify for a home in Paradise Valley. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's based on some financial information you provide and a credit check. Prequalification is also a chance to learn about your mortgage options and work with your lender to find the right fit. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Paradise Valley, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. Type in your likely purchase price and down payment. Follow that information with a few personal details and you're almost prequalified. The process is simple and your prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Paradise Valley, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Paradise Valley home can really eat up the hours. Join forces with a real estate agent in Paradise Valley who does the legwork for you. You can get connected with a top-performing real estate agent in Paradise Valley and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. See just how much you could 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 Paradise Valley is to apply for a home loan. You're almost at 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. They are home buying experts who will work their hardest to present you with the best loan options possible.

"Home" has never mattered more than it does right now. Call now and let us help you ready your finances to buy a house in Paradise Valley. The path to homeownership is right in front of you!

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