Can You Afford to Buy a House in Cerritos, CA?

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Steps to Afford to Buy a Home in Cerritos, CA

Help make sure your home isn't a source of financial stress. A good 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 Cerritos. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to talk strategy.

Examine your finances. Look at the whole picture. How do you feel about your savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. A solid way to start your Cerritos 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 pencil to paper," as they say. 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 Cerritos based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Cerritos home you want? If it's not, think about looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!

You're ready to prequalify for a house in Cerritos. 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 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’re looking to buy a home in Cerritos, 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. Type in your likely purchase price and down payment. Provide a few more personal details and you’re on your way to getting prequalified. It's a simple process and prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Cerritos, don't forget to budget your time, too. Minutes and seconds are things you never get back, and discovering your perfect Cerritos home can really eat up the hours. Turn to a real estate agent in Cerritos who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Cerritos 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.

Applying for a home loan is the last step in preparing your finances for a home purchase. The finish line is right around the corner! 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. 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 Cerritos. You can start on the path to homeownership today!

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