Learn How to Better Afford a Home in Pasadena, CA

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Steps to Afford to Buy a Home in Pasadena, CA

Help make sure your home isn't a source of financial stress. A great way 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 Pasadena, or if you should hold off until your situation is different. Get started with the following steps and call a Mr. Cooper Mortgage Professional to streamline the process.

Evaluate every angle of your finances. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. A good way to begin your Pasadena 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. 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 Pasadena based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Pasadena home you want? If not, think about buying a house in a surrounding area or boosting your down payment. 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 the right time to prequalify for a house in Pasadena. 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. Start with Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Pasadena, 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 clicks away from being 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 Pasadena, 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 Pasadena can be time-consuming. Partner with a real estate agent in Pasadena who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Pasadena and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it! 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 final step in getting your finances ready for a home purchase. The finish line is right around the corner! 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 are home buying experts who will work their hardest to present you with the best loan options possible.

"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 Pasadena. Let's get you started on your path to homeownership!

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