Money Wise Tips for Affording a Home in Pheonix, AZ
Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way to make sure that happens is to prepare for your home purchase ahead of time. Know when you can afford to buy a home in Pheonix, and when it might be better to wait until your situation changes. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to streamline the process.
Examine your finances. Look at the whole picture. How do you feel about your savings, current debt, monthly expenses, and credit history? A quick check-in with yourself can get you on the right path. The best way to start your Pheonix home buying journey is with adequate savings for a down payment, a strong credit history, and a good grasp on your everyday expenses.
Now, let's put some real numbers down. Use Mr. Cooper's affordability calculator to see where your budget stands. You can get an idea of how much house you can afford to buy in Pheonix based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Pheonix home you want? If it's not, think about increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!
It's the right time to prequalify for a house in Pheonix. 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 Pheonix, 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. Follow that information with a few personal details and you're almost prequalified. The process is straightforward. 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 Pheonix. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Pheonix. Partner with a real estate agent in Pheonix who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Pheonix and potentially save thousands.* 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.
Applying for a home loan is the last step in preparing your finances for a home purchase. Can you see the finish line? Work with a home loan servicer like Mr. Cooper, and you'll receive one-on-one support throughout the home loan, purchase, and closing process. Call Mr. Cooper Mortgage Professionals. They are home buying experts who will work their hardest to present you with the best loan options possible.
The house of your dreams is waiting for you and your loved ones. Get your finances in order to buy a house in Pheonix. You can start on the path to homeownership today!
- *Buyer’s Bonus Credit (Xome Purchase Pro) Disclosure: Buyers may be eligible to receive a Buyer’s Bonus Credit/Xome Purchase Pro (“Credit”) equal to 15% of the buyer’s agent’s fee. The amount of the credit is based on commissions and determined by each agent. Credit will be documented in an agreement between agent and customer at the time of engagement. Credit must be disclosed to lender, seller, broker, appraiser, and other parties with an interest. Credit subject to written lender approval. Credit will be reflected in Purchase Agreement, Closing Disclosure, and other documents. Consult a tax professional regarding tax implications of Credit. Consult local broker for any state law requirements. Conditions: (a) Customer must complete purchase transaction using a Mr. Cooper Real Estate Rewards Agent; (b) Credit is subject to sales commission; (c) Credit is not available for properties marketed/listed through any auction process, including, www.xome.com; (d) Credit offer may be modified at any time via the Terms of Use but modifications will not apply to any transactions under contract; (e) Credit will be provided at the time of closing.
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- Mr. Cooper Real Estate Rewards is offered by Xome. Inc., an affiliate of Mr. Cooper. Referrals to Xome may provide a financial benefit to Mr. Cooper. You are not required to use a real estate agent on the Xome panel as a condition of receiving a loan from Mr. Cooper, and such use will have no impact on any loan application to Mr. Cooper.
- This is an advertisement and not intended as a solicitation for agent representation if your property is currently listed with an agent. Visit Xome's licensing page https://www.xome.com/auctions/licensing.
- Xome Inc. & Xome CT LLC [Davis E. Owen, Sr.‐Broker] (for CT properties] & Xome PR LLC (for PR properties), 750 Hwy 121 BYP, Suite 100, Lewisville, TX 75067.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.