Learn How to Better Afford a Home in Longwood, FL

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Money Wise Tips for Affording a Home in Longwood, FL

Help make sure your home isn't a source of financial stress. A great way to ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Longwood, and when it might be better to wait until your situation changes. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to talk strategy.

Examine your finances. Look at the whole picture. What are your general thoughts 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 good way to begin your Longwood 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 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 calculate how much house you can afford in Longwood based on your desired maximum monthly mortgage payment and income. Will this number get you into the Longwood home or neighborhood you've had your eye on? If not, consider 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 Longwood. 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 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 Longwood, 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 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 Longwood, factor in your time, too. Minutes and seconds are things you never get back, and finding your perfect house can be time-consuming, especially in Longwood. Join forces with a real estate agent in Longwood who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Longwood and potentially save thousands.* Try it! 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.

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

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 Longwood. The path to homeownership is right in front of you!

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