Money Wise Tips for Affording a Home in Santa Monica, 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 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 Santa Monica. Get started with the following steps and contact a Mr. Cooper Mortgage Professional to streamline the process.
Examine your finances. Look at the whole picture. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A quick check-in with yourself can get you on the right path. A solid way to begin your Santa Monica 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 calculate how much house you can afford in Santa Monica based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Santa Monica home you want? 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 the right time to prequalify for a house in Santa Monica. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's based on some financial information 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. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Santa Monica, 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. Share a couple more personal details and you're almost 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 Santa Monica. Minutes and seconds are things you never get back, and looking for the perfect home in Santa Monica can be time-consuming. Turn to a real estate agent in Santa Monica who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Santa Monica and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. 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 final step in getting your finances ready for a home purchase. Can you see the finish line? 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'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 ready to buy a home in Santa Monica and give us a call. Let's get you started on your path to homeownership!
- *Buyer’s Bonus Credit (Xome Purchase Pro) Disclosure: Buyers may be eligible to receive a Buyer’s Bonus Credit/Xome Purchase Pro (“Credit”) equal to 15% of the buyer’s agent’s fee. The amount of the credit is based on commissions and determined by each agent. Credit will be documented in an agreement between agent and customer at the time of engagement. Credit must be disclosed to lender, seller, broker, appraiser, and other parties with an interest. Credit subject to written lender approval. Credit will be reflected in Purchase Agreement, Closing Disclosure, and other documents. Consult a tax professional regarding tax implications of Credit. Consult local broker for any state law requirements. Conditions: (a) Customer must complete purchase transaction using a Mr. Cooper Real Estate Rewards Agent; (b) Credit is subject to sales commission; (c) Credit is not available for properties marketed/listed through any auction process, including, www.xome.com; (d) Credit offer may be modified at any time via the Terms of Use but modifications will not apply to any transactions under contract; (e) Credit will be provided at the time of closing.
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- Mr. Cooper Real Estate Rewards is offered by Xome. Inc., an affiliate of Mr. Cooper. Referrals to Xome may provide a financial benefit to Mr. Cooper. You are not required to use a real estate agent on the Xome panel as a condition of receiving a loan from Mr. Cooper, and such use will have no impact on any loan application to Mr. Cooper.
- This is an advertisement and not intended as a solicitation for agent representation if your property is currently listed with an agent. Visit Xome's licensing page https://www.xome.com/auctions/licensing.
- Xome Inc. & Xome CT LLC [Davis E. Owen, Sr.‐Broker] (for CT properties] & Xome PR LLC (for PR properties), 750 Hwy 121 BYP, Suite 100, Lewisville, TX 75067.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.