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

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

Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way to make sure that happens is to prepare for your home purchase ahead of time. 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 San Jose. Get started with the following steps and call a Mr. Cooper Mortgage Professional to talk strategy.

Take a look at your finances—the whole landscape. What are your general thoughts about your current monthly expenses, credit history, and savings? A quick check-in with yourself can get you on the right path. A good way to begin your San Jose 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 some real numbers down. Use Mr. Cooper's affordability calculator to see where your budget stands. You can calculate how much house you can afford in San Jose based on income or your desired maximum monthly mortgage payment. Will this price range get you into the San Jose home you've been dreaming about? If it's not, think about looking in surrounding areas or increasing your down payment. If it will, then take the next step in the homeownership journey with Mr. Cooper!

It's the right time to prequalify for a house in San Jose. 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 an opportunity to learn more about your various mortgage options and determine which one is right for you. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in San Jose, 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. The process is straightforward. Prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in San Jose, factor in your time, too. Time is non-renewable and non-refundable, and discovering your perfect San Jose home can really eat up the hours. Partner with a real estate agent in San Jose who does the legwork for you. You can get connected with a top-performing real estate agent in San Jose 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.

The last step in preparing your finances to buy a house in San Jose is to apply for a home loan. You're almost at the finish line! Let a home loan servicer like Mr. Cooper guide you in the process 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 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 San Jose and give us a call. You can start on the path to homeownership today!

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