Can You Afford to Buy a House in Cathedral City, CA?

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Your Step-by-Step Guide to Afford to Buy a House in Cathedral City, CA

Help make sure your home isn't a source of financial stress. One of the best ways 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 Cathedral City, or if you should hold off until your situation is different. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to streamline the process.

Take a look at your finances—the whole landscape. What are your general thoughts about your financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. The best way to start your Cathedral City 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 Cathedral City based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Cathedral City home you've been dreaming about? If it's not, think about increasing your down payment or looking in surrounding areas. If it will, then take the next step in the homeownership journey with Mr. Cooper!

You're ready to prequalify for a house in Cathedral City. 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 an opportunity to learn more about your various mortgage options and determine which one is right for you. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you’re looking to buy a home in Cathedral City, 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 clicks away from being prequalified. It's a simple process and prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Cathedral City, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Cathedral City home can really eat up the hours. Join forces with a real estate agent in Cathedral City who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Cathedral City and potentially save thousands.* Try it! Estimate how much you may 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 Cathedral City is to apply for a home loan. You're almost at the finish line! Partner 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 today. They know the details of buying a home, inside and out, and will work to find the loan that fits you best.

"Home" has never mattered more than it does right now. Get your finances ready to buy a home in Cathedral City and give us a call. The path to homeownership is right in front of you!

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