Can You Afford to Buy a House in Costa Mesa, CA?

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Steps to Afford to Buy a Home in Costa Mesa, CA

You want your home to be a haven of happiness, not a financial burden. A good way to make sure that happens is to prepare for your home purchase ahead of time. Be honest with yourself to determine if you can afford to buy a house in Costa Mesa, or if you should hold off until your situation is different. Get started with the following steps and contact a Mr. Cooper Mortgage Professional to discuss strategy.

Take a look at your finances—the whole landscape. How do you feel about your current monthly expenses, credit history, and savings? A quick reality check goes a long way. The best way to start your Costa Mesa home buying journey is with confidence, a strong credit history, enough savings for a down payment, and a good handle on your current expenses.

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 get an idea of how much house you can afford to buy in Costa Mesa based on your desired maximum monthly mortgage payment and income. Will this number get you into the Costa Mesa home or neighborhood you've had your eye on? If not, consider increasing your down payment or looking in surrounding areas. 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 Costa Mesa. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's calculated based on a credit check and a couple of financial details you provide. 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 want to buy a house in Costa Mesa, the property type, how you're going to use the property, and if you currently have a real estate agent. Type in your likely purchase price and down payment. Follow that information with a few personal details and you're clicks away from being 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 Costa Mesa. Your time is one resource that's non-refundable and non-renewable, and finding your perfect house can be time-consuming, especially in Costa Mesa. Turn to a real estate agent in Costa Mesa 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 Costa Mesa 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 final step in getting your finances ready for a home purchase. You're almost at the finish line! Partner with a home loan servicer like Mr. Cooper, 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 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 in order to buy a house in Costa Mesa. Let's get you started on your path to homeownership!

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