Your Step-by-Step Guide to Afford to Buy a House in North Hills, CA
You want your home to be a haven of happiness, not a financial burden. One of the best ways to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Be honest with yourself to determine if you can afford to buy a house in North Hills, or if you should hold off until your situation is different. Start the process with the following steps and contact a Mr. Cooper Mortgage Professional to discuss strategy.
Examine your finances. Look at the whole picture. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A quick check-in with yourself can get you on the right path. A good way to start your North Hills 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. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can calculate how much house you can afford in North Hills based on your desired maximum monthly mortgage payment and income. Will this number get you into the North Hills home or neighborhood you've had your eye on? If it's not, think about looking in surrounding areas or increasing your down payment. If it will, then take the next step in the homeownership journey with Mr. Cooper!
You're ready to prequalify for a house in North Hills. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Start with Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in North Hills, 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. Follow that information with a few personal details and you're almost prequalified. The process is simple and your prequalification lasts 120 days.
When figuring out what it will take to afford to buy a home in North Hills, don't forget to budget your time, too. Time is non-renewable and non-refundable, and discovering your perfect North Hills home can really eat up the hours. Join forces with a real estate agent in North Hills who does the legwork for you.
Applying for a home loan is the last step in preparing your finances for a home purchase. Can you see 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. 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 North Hills. Let's get you started on your path to homeownership!