Your Step-by-Step Guide to Afford to Buy a House in Bloomington, IN
You want your home to be a haven of happiness, not a financial burden. A great 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 Bloomington, or if you should hold off until your situation is different. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to streamline the process.
Examine your finances. Look at the whole picture. Are you confident about your current monthly expenses, credit history, and savings? A quick reality check goes a long way. A good way to begin your Bloomington home buying journey is with adequate savings for a down payment, a strong credit history, and a good grasp on your everyday expenses.
Now, let's "put pencil to paper," as they say. Use Mr. Cooper's affordability calculator to see where your budget stands. You can calculate how much house you can afford in Bloomington based on income or your desired maximum monthly mortgage payment. Will this number get you into the Bloomington home or neighborhood you've had your eye on? 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 Bloomington. 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. 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’re looking to buy a home in Bloomington, the type of property you’d like to buy, how you plan on using the property, and if you’re currently working with a real estate agent. Type in your likely purchase price and down payment. Share a couple more personal details and you're almost prequalified. The process is simple and your prequalification lasts 120 days.
When crunching the numbers on how you'll afford to buy a home in Bloomington, factor in your time, too. Minutes and seconds are things you never get back, and discovering your perfect Bloomington home can really eat up the hours. Partner with a real estate agent in Bloomington who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Bloomington and potentially save thousands.* Try it! Get an idea of how much you might be able to 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 Bloomington is to apply for a home loan. The finish line is right around the corner! Work with a home loan servicer like Mr. Cooper, 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.
The house of your dreams is waiting for you and your loved ones. Get your finances ready to buy a home in Bloomington and give us a call. The path to homeownership is right in front of you!
- *Buyer’s Bonus Credit (Xome Purchase Pro) Disclosure: Buyers may be eligible to receive a Buyer’s Bonus Credit/Xome Purchase Pro (“Credit”) equal to 15% of the buyer’s agent’s fee. The amount of the credit is based on commissions and determined by each agent. Credit will be documented in an agreement between agent and customer at the time of engagement. Credit must be disclosed to lender, seller, broker, appraiser, and other parties with an interest. Credit subject to written lender approval. Credit will be reflected in Purchase Agreement, Closing Disclosure, and other documents. Consult a tax professional regarding tax implications of Credit. Consult local broker for any state law requirements. Conditions: (a) Customer must complete purchase transaction using a Mr. Cooper Real Estate Rewards Agent; (b) Credit is subject to sales commission; (c) Credit is not available for properties marketed/listed through any auction process, including, www.xome.com; (d) Credit offer may be modified at any time via the Terms of Use but modifications will not apply to any transactions under contract; (e) Credit will be provided at the time of closing.
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- Mr. Cooper Real Estate Rewards is offered by Xome. Inc., an affiliate of Mr. Cooper. Referrals to Xome may provide a financial benefit to Mr. Cooper. You are not required to use a real estate agent on the Xome panel as a condition of receiving a loan from Mr. Cooper, and such use will have no impact on any loan application to Mr. Cooper.
- This is an advertisement and not intended as a solicitation for agent representation if your property is currently listed with an agent. Visit Xome's licensing page https://www.xome.com/auctions/licensing.
- Xome Inc. & Xome CT LLC [Davis E. Owen, Sr.‐Broker] (for CT properties] & Xome PR LLC (for PR properties), 750 Hwy 121 BYP, Suite 100, Lewisville, TX 75067.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.