Can You Afford to Buy a House in Denver, CO?

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Money Wise Tips for Affording a Home in Denver, CO

You want your home to be a haven of happiness, not a financial burden. A great 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 Denver, 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.

Take a look at your finances—the whole landscape. Are you confident about your savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. A good way to begin your Denver home buying journey is with adequate savings for a down payment, a strong credit history, and a good grasp on your everyday expenses.

Now, let's play with some real numbers. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can estimate about how much house you can afford in Denver based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Denver home you've been dreaming about? If not, think about looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!

It's time to prequalify for a home in Denver. 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 Denver, 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 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 Denver. Your time is one resource that's non-refundable and non-renewable, and finding your perfect house can be time-consuming, especially in Denver. Turn to a real estate agent in Denver who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Denver 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. Can you see the finish line? Let a home loan servicer like Mr. Cooper guide you in the process and you'll gain the distinct advantage of one-on-one support all along the way—from loan to closing. Call Mr. Cooper Mortgage Professionals today. They know the details of buying a home, inside and out, and will work to find the loan that fits you best.

The house of your dreams is waiting for you and your loved ones. Get your finances in order to buy a house in Denver. Let's get you started on your path to homeownership!

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