Learn How to Better Afford a Home in Granite City, IL

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

You want your home to be a haven of happiness, not a financial burden. One of the best ways to ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Granite City, and when it might be better to wait until your situation changes. Start the process with the following steps and reach out to a Mr. Cooper Mortgage Professional to streamline the process.

Take a look at your finances—the whole landscape. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A little "gut check" can go a long way. A good way to begin your Granite City 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 some real numbers down. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can calculate how much house you can afford in Granite City based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Granite City home you want? If not, consider buying a house in a surrounding area or boosting your down payment. If it's a good number, then call Mr. Cooper. It's time to move on to the next step in the homeownership journey!

It's the right time to prequalify for a house in Granite City. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Granite City, 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. Follow that information with a few personal details and you’re on your way to getting 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 Granite City, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Granite City home can really eat up the hours. Join forces with a real estate agent in Granite City who does the legwork for you. You can get connected with a top-performing real estate agent in Granite City and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. See just how much you could 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. Can you see 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 today. They know the details of buying a home, inside and out, and will work to find the loan that fits you best.

The house of your dreams is waiting for you and your loved ones. Call now and let us help you ready your finances to buy a house in Granite City. The path to homeownership is right in front of you!

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