Learn How to Better Afford a Home in South Pasadena, CA

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Steps to Afford to Buy a Home in South Pasadena, CA

Your home should be a retreat from the worries of the world, not a place where new worries begin. One of the best ways to make that happen is to be financially prepared for your home purchase before you set foot in an open house. 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 South Pasadena. Walk through the following steps to get started and reach out to 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 quick reality check goes a long way. A good way to begin your South Pasadena 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 pencil to paper," as they say. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in South Pasadena based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the South Pasadena home you want? If not, consider increasing your down payment or looking in surrounding areas. If it's a good number, then call Mr. Cooper. It's time to move on to the next step in the homeownership journey!

It's the right time to prequalify for a house in South Pasadena. 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. Prequalification is also an opportunity to learn more about your various mortgage options and determine which one is right for you. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in South Pasadena, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. Enter your expected down payment and purchase price. Provide a few more personal details and you're almost prequalified. The process is straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in South Pasadena, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and looking for the perfect home in South Pasadena can be time-consuming. Turn to a real estate agent in South Pasadena 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 South Pasadena and potentially save thousands.* Try it—there's no strings attached. Get an idea of how much you might be able to save on real estate commissions and closing costs 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. You're almost at the finish line! Work with a home loan servicer like Mr. Cooper, 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.

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

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