How to Afford to Buy a House in Burbank, IL

Busy? Have us call you back. Call Me Back

More Information

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

Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way to make sure that happens is to prepare for your home purchase ahead of time. Be honest with yourself to determine if you can afford to buy a house in Burbank, or if you should hold off until your situation is different. Get started with the following steps and reach out to a Mr. Cooper Mortgage Professional to talk strategy.

Examine your finances. Look at the whole picture. How do you feel about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A good way to begin your Burbank 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 get an idea of how much house you can afford to buy in Burbank based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Burbank home you want? If not, think about 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!

You're ready to prequalify for a house in Burbank. 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you want to buy a house in Burbank, the property type, how you're going to use the property, and if you currently have a real estate agent. Type in your likely purchase price and down payment. Provide a few more personal details and you're clicks away from being prequalified. It's a simple process and 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 Burbank. Your time is one resource that's non-refundable and non-renewable, and looking for the perfect home in Burbank can be time-consuming. Join forces with a real estate agent in Burbank who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Burbank 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 final step in getting your finances ready for a home purchase. You're almost at the finish line! Let a home loan servicer like Mr. Cooper guide you in the process 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. They are home buying experts who will work their hardest to present you with the best loan options possible.

Your dream home, or as we like to say, "The One" is waiting for you! Call now and let us help you ready your finances to buy a house in Burbank. You can start on the path to homeownership today!

Burbank, IL Mr. Cooper Customer Reviews

Read actual reviews from actual Mr. Cooper customers in Burbank, IL. Then call us to see how we can help you.

Make buying or selling a Burbank home easier.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.