How to Afford to Buy a House in St. Augustine, FL

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Steps to Afford to Buy a Home in St. Augustine, FL

Help make sure your home isn't a source of financial stress. 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 St. Augustine, 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 discuss strategy.

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. A good way to start your St. Augustine 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. 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 St. Augustine based on your desired maximum monthly mortgage payment and income. Will this price range get you into the St. Augustine home you've been dreaming about? If not, think about looking in surrounding areas or increasing your down payment. If it will, then take the next step in the homeownership journey with Mr. Cooper!

You're ready to prequalify for a house in St. Augustine. 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. Prequalification is also an opportunity to learn more about your various mortgage options and determine which one is right for you. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in St. Augustine, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected down payment and purchase price. 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 St. Augustine. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in St. Augustine. Turn to a real estate agent in St. Augustine who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing St. Augustine real estate agent and potentially save thousands of dollars.* Try it—there's no strings attached. Estimate how much you may be able to save on real estate commissions and closing costs 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? 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 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. Call now and let us help you ready your finances to buy a house in St. Augustine. Let's get you started on your path to homeownership!

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