Can You Afford to Buy a House in Saint Petersburg, FL?

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Steps to Afford to Buy a Home in Saint Petersburg, FL

You want your home to be a haven of happiness, not a financial burden. A good 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 Saint Petersburg, and when it might be better to wait until your situation changes. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to talk strategy.

Take a look at your finances—the whole landscape. What are your general thoughts about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A solid way to begin your Saint Petersburg home buying journey is with confidence, a strong credit history, enough savings for a down payment, and a good handle on your current expenses.

Now, let's "put pencil to paper," as they say. 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 Saint Petersburg based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Saint Petersburg 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!

You're ready to prequalify for a house in Saint Petersburg. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's the result of some financial details 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. Get started using Mr. Cooper’s online prequalification tool. Let us know where you'd like to buy a home in Saint Petersburg, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. Enter your expected down payment and purchase price. Follow that information with a few personal details and you’re on your way to getting prequalified. The process is straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Saint Petersburg, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Saint Petersburg home can really eat up the hours. Partner with a real estate agent in Saint Petersburg who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Saint Petersburg real estate agent and potentially save thousands of dollars.* Try it! Estimate how much you may be able to 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. The finish line is right around the corner! Partner with a home loan servicer like Mr. Cooper, 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 are home buying experts who will work their hardest to present you with the best loan options possible.

"Home" has never mattered more than it does right now. Get your finances in order to buy a house in Saint Petersburg. You can start on the path to homeownership today!

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