Steps to Afford to Buy a Home in Van Nuys, CA
You want your home to be a haven of happiness, not a financial burden. One of the best ways 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 Van Nuys, or if you should hold off until your situation is different. Walk through the following steps to get started and call a Mr. Cooper Mortgage Professional to streamline the process.
Evaluate every angle of your finances. 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 Van Nuys 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. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can estimate about how much house you can afford in Van Nuys based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Van Nuys home you want? 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 time to prequalify for a home in Van Nuys. 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. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Van Nuys, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected purchase price and down payment. Provide a few more personal details and you're clicks away from being prequalified. The process is straightforward. Prequalification lasts 120 days.
When figuring out what it will take to afford to buy a home in Van Nuys, don't forget to budget your time, too. Time is non-renewable and non-refundable, and looking for the perfect home in Van Nuys can be time-consuming. Turn to a real estate agent in Van Nuys who does the bulk of the work for you.
Applying for a home loan is the final step in getting your finances ready for a home purchase. Can you see the finish line? Partner 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 in order to buy a house in Van Nuys. You can start on the path to homeownership today!