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

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Steps to Afford to Buy a Home in Maywood, 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. Know when you can afford to buy a home in Maywood, and when it might be better to wait until your situation changes. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to discuss strategy.

Take a look at your finances—the whole landscape. Are you confident about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A good way to start your Maywood 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 play with some real numbers. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can calculate how much house you can afford in Maywood based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Maywood home you want? If not, consider buying a house in a surrounding area or boosting your down payment. If it will, then take the next step in the homeownership journey with Mr. Cooper!

You're ready to prequalify for a house in Maywood. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's calculated based on a credit check and a couple of financial details you provide. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Get started using Mr. Cooper’s online prequalification tool. Let us know where you'd like to buy a home in Maywood, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. Enter your expected down payment and purchase price. Provide a few more personal details and you're clicks away from being 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 Maywood, don't forget to budget your time, too. Minutes and seconds are things you never get back, and looking for the perfect home in Maywood can be time-consuming. Join forces with a real estate agent in Maywood who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Maywood and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it! Get an idea of how much you might 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 last step in preparing your finances 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 receive personalized support from the moment you dream of owning a home to the reality of holding the keys in your hand. Call Mr. Cooper Mortgage Professionals. They're pros when it comes to what it takes to buy a house and will work hard to find the right loan for you.

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 Maywood. You can start on the path to homeownership today!

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