Can You Afford to Buy a House in Montville, CT?

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Your Step-by-Step Guide to Afford to Buy a House in Montville, CT

You want your home to be a haven of happiness, not a financial burden. A good way to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Be honest with yourself to determine if you can afford to buy a house in Montville, or if you should hold off until your situation is different. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to streamline the process.

Evaluate every angle of your finances. Are you confident about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. The best way to begin your Montville 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 pencil to paper," as they say. 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 Montville based on your desired maximum monthly mortgage payment and income. Will this number get you into the Montville home or neighborhood you've had your eye on? If not, think about looking in surrounding areas or increasing your down payment. 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 time to prequalify for a home in Montville. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's calculated based on a credit check and a couple of financial details you provide. Prequalification is also a chance to learn about your mortgage options and work with your lender to find the right fit. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Montville, 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 almost prequalified. The process is straightforward. 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 Montville. Time is non-renewable and non-refundable, and discovering your perfect Montville home can really eat up the hours. Join forces with a real estate agent in Montville who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Montville real estate agent and potentially save thousands of dollars.* Give it a try. See just how much you could save on real estate commissions and closing costs with Mr. Cooper’s Real Estate Rewards calculator.

The last step in preparing your finances to buy a house in Montville is to apply for a home loan. Can you see the finish line? Let a home loan servicer like Mr. Cooper guide you in the process 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.

Your dream home, or as we like to say, "The One" is waiting for you! Get your finances in order to buy a house in Montville. Let's get you started on your path to homeownership!

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