How to Afford to Buy a House in Lemont, IL

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

You want your home to be a haven of happiness, not a financial burden. A great way to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Know when you can afford to buy a home in Lemont, and when it might be better to wait until your situation changes. Walk through the following steps to get started and contact a Mr. Cooper Mortgage Professional to talk strategy.

Evaluate every angle of your finances. What are your general thoughts about your financial situation, credit history, savings, and current monthly expenses? A little "gut check" can go a long way. The best way to begin your Lemont 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. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can estimate about how much house you can afford in Lemont based on your desired maximum monthly mortgage payment and income. Will this number get you into the Lemont home or neighborhood you've had your eye on? If not, consider looking in surrounding areas or increasing 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 Lemont. 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 Lemont, 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. Share a couple more 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 Lemont, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Lemont home can really eat up the hours. Turn to a real estate agent in Lemont who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Lemont and potentially save thousands.* Try it! 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 Lemont is to apply for a home loan. The finish line is right around the corner! 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 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. Get your finances in order to buy a house in Lemont. Let's get you started on your path to homeownership!

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