Can You Afford to Buy a House in Bridgeview, IL?

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Your Step-by-Step Guide to Afford to Buy a House in Bridgeview, IL

Your home should be a retreat from the worries of the world, not a place where new worries begin. One of the best ways 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 Bridgeview, or if you should hold off until your situation is different. Get started with the following steps and contact a Mr. Cooper Mortgage Professional to discuss strategy.

Take a look at your finances—the whole landscape. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. A solid way to start your Bridgeview 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 pencil to paper," as they say. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in Bridgeview based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Bridgeview home you've been dreaming about? If it's not, think about increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!

It's time to prequalify for a home in Bridgeview. 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’re looking to buy a home in Bridgeview, the type of property you’d like to buy, how you plan on using the property, and if you’re currently working with a real estate agent. Type in your likely purchase price and down payment. Share a couple more personal details and you're almost prequalified. It's a simple process and prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Bridgeview, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and finding your perfect house can be time-consuming, especially in Bridgeview. Join forces with a real estate agent in Bridgeview who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Bridgeview and potentially save thousands.* 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 Bridgeview is to apply for a home loan. Can you see the finish line? Partner 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 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. Call now and let us help you ready your finances to buy a house in Bridgeview. The path to homeownership is right in front of you!

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