Learn How to Better Afford a Home in Indianapolis, IN

Busy? Have us call you back. Call Me Back

More Information

Steps to Afford to Buy a Home in Indianapolis, IN

Your home should be a retreat from the worries of the world, not a place where new worries begin. One of the best ways 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 Indianapolis, and when it might be better to wait until your situation changes. Get started with the following steps and call 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 quick check-in with yourself can get you on the right path. A good way to start your Indianapolis 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 put some real numbers down. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in Indianapolis based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Indianapolis home you want? If not, think about increasing your down payment or looking in surrounding areas. 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 time to prequalify for a home in Indianapolis. 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. Prequalification is also a chance to learn about your mortgage options and work with your lender to find the right fit. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Indianapolis, 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 purchase price and down payment. Share a couple more personal details and you're almost prequalified. It's a simple process and prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Indianapolis, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and looking for the perfect home in Indianapolis can be time-consuming. Turn to a real estate agent in Indianapolis who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Indianapolis real estate agent and potentially save thousands of dollars.* Give it a try. 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.

The last step in preparing your finances to buy a house in Indianapolis is to apply for a home loan. You're almost at the finish line! 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 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. Get your finances ready to buy a home in Indianapolis and give us a call. The path to homeownership is right in front of you!

Indianapolis, IN Mr. Cooper Customer Reviews

Read real stories from real Mr. Cooper home buyers and sellers in Indianapolis, IN. Then contact us to see what we can do for you.

Make buying or selling a Indianapolis home easier.

Put Mr. Cooper in your corner for a better home buying or selling experience.