How to Afford to Buy a House in San Bernardino, CA

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Steps to Afford to Buy a Home in San Bernardino, CA

Help make sure your home isn't a source of financial stress. A good way to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Know when you can afford to buy a home in San Bernardino, and when it might be better to wait until your situation changes. Get started with the following steps and reach out to a Mr. Cooper Mortgage Professional to discuss strategy.

Take a look at your finances—the whole landscape. How do you feel about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A good way to begin your San Bernardino home buying journey is with adequate savings for a down payment, a strong credit history, and a good grasp on your everyday 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 San Bernardino based on income or your desired maximum monthly mortgage payment. Will this number get you into the San Bernardino home or neighborhood you've had your eye on? If not, consider increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!

It's time to prequalify for a home in San Bernardino. 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. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in San Bernardino, 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. Follow that information with a few personal details and you're clicks away from being prequalified. The process is straightforward. Prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in San Bernardino, factor in your time, too. Minutes and seconds are things you never get back, and looking for the perfect home in San Bernardino can be time-consuming. Turn to a real estate agent in San Bernardino who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing San Bernardino real estate agent and potentially save thousands of dollars.* Give it a try. Estimate how much you may 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 last step in preparing your finances for a home purchase. The finish line is right around the corner! Work 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. They are home buying experts who will work their hardest to present you with the best loan options possible.

The house of your dreams is waiting for you and your loved ones. Get your finances ready to buy a home in San Bernardino and give us a call. The path to homeownership is right in front of you!

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