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

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Steps to Afford to Buy a Home in Vernon, CT

Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way 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 Vernon, 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.

Examine your finances. Look at the whole picture. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A little "gut check" can go a long way. A good way to start your Vernon 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 put some real numbers down. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can get an idea of how much house you can afford to buy in Vernon based on income or your desired maximum monthly mortgage payment. Will this number get you into the Vernon home or neighborhood you've had your eye on? If it's 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 Vernon. 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Vernon, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. Type in your likely purchase price and down payment. Share a couple more personal details and you’re on your way to getting prequalified. The process is straightforward. Prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Vernon, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and looking for the perfect home in Vernon can be time-consuming. Join forces with a real estate agent in Vernon who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Vernon real estate agent and potentially save thousands of dollars.* Give it a try. Estimate how much you may be able to save on closing costs and real estate commissions with Mr. Cooper’s Real Estate Rewards calculator.

The last step in preparing your finances to buy a house in Vernon is to apply for a home loan. You're almost at 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. They know the details of buying a home, inside and out, and will work to find the loan that fits you best.

"Home" has never mattered more than it does right now. Get your finances in order to buy a house in Vernon. The path to homeownership is right in front of you!

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