How to Afford to Buy a House in Santa Cruz, CA

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Steps to Afford to Buy a Home in Santa Cruz, CA

Help make sure your home isn't a source of financial stress. A good way to make sure that happens is to prepare for your home purchase ahead of time. Know when you can afford to buy a home in Santa Cruz, and when it might be better to wait until your situation changes. Get started with the following steps and call a Mr. Cooper Mortgage Professional to streamline the process.

Examine your finances. Look at the whole picture. How do you feel about your financial situation, credit history, savings, and current monthly expenses? A little "gut check" can go a long way. A solid way to begin your Santa Cruz 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. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can get an idea of how much house you can afford to buy in Santa Cruz based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Santa Cruz home you've been dreaming about? If it's not, think about increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!

It's the right time to prequalify for a house in Santa Cruz. 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’re looking to buy a home in Santa Cruz, the type of property you’d like to buy, how you plan on using the property, and if you’re currently working with a real estate agent. Type in your likely purchase price and down payment. Follow that information with a few personal details and you're almost 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 Santa Cruz, don't forget to budget your time, too. Minutes and seconds are things you never get back, and looking for the perfect home in Santa Cruz can be time-consuming. Partner with a real estate agent in Santa Cruz who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Santa Cruz 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.

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 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 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. Call now and let us help you ready your finances to buy a house in Santa Cruz. Let's get you started on your path to homeownership!

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