Money Wise Tips for Affording a Home in Sacramento, CA
Help make sure your home isn't a source of financial stress. A good way to ensure that happens is to ready your finances beforehand. Know when it might be better to wait until your situation improves and when you're in a financially strong enough position to buy a home in Sacramento. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to streamline the process.
Take a look at your finances—the whole landscape. What are your general thoughts about your financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. The best way to begin your Sacramento 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 some real numbers down. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can get an idea of how much house you can afford to buy in Sacramento based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Sacramento home you want? If it's not, think about looking in surrounding areas or increasing 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 time to prequalify for a home in Sacramento. 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. Prequalification is also a chance to learn about your mortgage options and work with your lender to find the right fit. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Sacramento, 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 on your way to getting prequalified. It's a simple process and prequalification lasts 120 days.
When crunching the numbers on how you'll afford to buy a home in Sacramento, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Sacramento home can really eat up the hours. Turn to a real estate agent in Sacramento who takes care of the tedious work for you.
The last step in preparing your finances to buy a house in Sacramento is to apply for a home loan. Can you see the finish line? Work 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 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.
The house of your dreams is waiting for you and your loved ones. Get your finances in order to buy a house in Sacramento. The path to homeownership is right in front of you!