Can You Afford to Buy a House in Evansville, IN?

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Money Wise Tips for Affording a Home in Evansville, IN

You want your home to be a haven of happiness, not a financial burden. 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 Evansville, and when it might be better to wait until your situation changes. Get started with the following steps and reach out to a Mr. Cooper Mortgage Professional to discuss strategy.

Evaluate every angle of your finances. Are you confident about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. The best way to start your Evansville 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. 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 Evansville based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Evansville home you want? If not, consider 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 Evansville. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's based on some financial information 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you want to buy a house in Evansville, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected purchase price and down payment. Follow that information with a few personal details and you're clicks away from being prequalified. The process is simple and your prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Evansville, don't forget to budget your time, too. Minutes and seconds are things you never get back, and discovering your perfect Evansville home can really eat up the hours. Turn to a real estate agent in Evansville who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Evansville and potentially save thousands.* 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. Can you see the finish line? Work 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'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! Get your finances in order to buy a house in Evansville. Let's get you started on your path to homeownership!

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