Learn How to Better Afford a Home in Brookfield, IL

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Steps to Afford to Buy a Home in Brookfield, IL

You want your home to be a haven of happiness, not a financial burden. One of the best ways 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 Brookfield, 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 streamline the process.

Evaluate every angle of your finances. How do you feel about your financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. A good way to begin your Brookfield 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. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can get an idea of how much house you can afford to buy in Brookfield based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Brookfield home you've been dreaming about? If not, consider buying a house in a surrounding area or boosting 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 Brookfield. 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 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'd like to buy a home in Brookfield, 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 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 Brookfield. Time is non-renewable and non-refundable, and looking for the perfect home in Brookfield can be time-consuming. Join forces with a real estate agent in Brookfield who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Brookfield and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. See just how much you could 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. You're almost at 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. 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 ready to buy a home in Brookfield and give us a call. The path to homeownership is right in front of you!

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