Your Step-by-Step Guide to Afford to Buy a House in Petaluma, CA
Help make sure your home isn't a source of financial stress. A great 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 Petaluma, or if you should hold off until your situation is different. Start the process with the following steps and reach out to a Mr. Cooper Mortgage Professional to discuss strategy.
Evaluate every angle of your finances. What are your general thoughts about your savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. A good way to start your Petaluma 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 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 Petaluma based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Petaluma home you want? If not, consider increasing your down payment or looking in surrounding areas. If it will, then take the next step in the homeownership journey with Mr. Cooper!
You're ready to prequalify for a house in Petaluma. 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. 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 want to buy a house in Petaluma, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected down payment and purchase price. Provide a few more personal details and you're clicks away from being 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 Petaluma, don't forget to budget your time, too. Time is non-renewable and non-refundable, and discovering your perfect Petaluma home can really eat up the hours. Partner with a real estate agent in Petaluma who takes care of the tedious work for you.
The last step in preparing your finances to buy a house in Petaluma is to apply for a home loan. The finish line is right around the corner! 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 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 Petaluma. The path to homeownership is right in front of you!