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

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Your Step-by-Step Guide to Afford to Buy a House in San Rafael, CA

You want your home to be a haven of happiness, not a financial burden. A great way to ensure that happens is to ready your finances beforehand. Be honest with yourself to determine if you can afford to buy a house in San Rafael, or if you should hold off until your situation is different. Walk through the following steps to get started and contact a Mr. Cooper Mortgage Professional to streamline the process.

Examine your finances. Look at the whole picture. How do you feel about your savings, current debt, monthly expenses, and credit history? A quick check-in with yourself can get you on the right path. The best way to begin your San Rafael 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 put some real numbers down. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in San Rafael based on income or your desired maximum monthly mortgage payment. Will this number get you into the San Rafael home or neighborhood you've had your eye on? If not, think about buying a house in a surrounding area or boosting 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 Rafael. 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. 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 want to buy a house in San Rafael, the property type, how you're going to use the property, and if you currently have a real estate agent. Type in your likely purchase price and down payment. Provide a few more personal details and you're clicks away from being prequalified. The process is simple and your prequalification lasts 120 days.

Don't forget to budget your time when doing the math on how you can afford to buy a house in San Rafael. Your time is one resource that's non-refundable and non-renewable, and looking for the perfect home in San Rafael can be time-consuming. Join forces with a real estate agent in San Rafael who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in San Rafael and potentially save thousands.* 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.

The last step in preparing your finances to buy a house in San Rafael is to apply for a home loan. The finish line is right around the corner! Let a home loan servicer like Mr. Cooper guide you in the process and you'll receive one-on-one support throughout the home loan, purchase, and closing process. 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.

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 Rafael and give us a call. The path to homeownership is right in front of you!

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