Learn How to Better Afford a Home in Lakewood, CA

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Steps to Afford to Buy a Home in Lakewood, CA

Help make sure your home isn't a source of financial stress. One of the best ways 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 Lakewood, and when it might be better to wait until your situation changes. Get started with the following steps and reach out to a Mr. Cooper Mortgage Professional to talk strategy.

Examine your finances. Look at the whole picture. Are you confident about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A solid way to begin your Lakewood 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 "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 Lakewood based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Lakewood home you've been dreaming about? If not, think about 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 Lakewood. 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. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Get started using Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Lakewood, 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 down payment and purchase price. Share a couple more personal details and you're almost 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 Lakewood, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and looking for the perfect home in Lakewood can be time-consuming. Turn to a real estate agent in Lakewood who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Lakewood and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. Estimate how much you may 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 final step in getting your finances ready for a home purchase. You're almost at the finish line! Let a home loan servicer like Mr. Cooper guide you in the process and you'll receive personalized support from the moment you dream of owning a home to the reality of holding the keys in your hand. Call Mr. Cooper Mortgage Professionals today. They're pros when it comes to what it takes to buy a house and will work hard to find the right loan for you.

"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 Lakewood. The path to homeownership is right in front of you!

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