Can You Afford to Buy a House in Ridgecrest, CA?

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Money Wise Tips for Affording a Home in Ridgecrest, CA

You want your home to be a haven of happiness, not a financial burden. A good way to ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Ridgecrest, and when it might be better to wait until your situation changes. Start the process with the following steps and reach out to a Mr. Cooper Mortgage Professional to talk strategy.

Take a look at your finances—the whole landscape. Are you confident about your savings, current debt, monthly expenses, and credit history? A quick reality check goes a long way. A good way to start your Ridgecrest 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. 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 Ridgecrest based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Ridgecrest home you've been dreaming about? 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 the right time to prequalify for a house in Ridgecrest. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's based on some financial information 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Ridgecrest, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. Enter your expected purchase price and down payment. Share a couple more personal details and you’re on your way to getting 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 Ridgecrest, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Ridgecrest home can really eat up the hours. Join forces with a real estate agent in Ridgecrest who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Ridgecrest and potentially save thousands with Mr. Cooper® Real Estate Rewards.* 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.

The last step in preparing your finances to buy a house in Ridgecrest is to apply for a home loan. You're almost at the finish line! Work with a home loan servicer like Mr. Cooper, 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 know the details of buying a home, inside and out, and will work to find the loan that fits you best.

Your dream home, or as we like to say, "The One" is waiting for you! Get your finances ready to buy a home in Ridgecrest and give us a call. Let's get you started on your path to homeownership!

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