Money Wise Tips for Affording a Home in Lafayette, IN
Help make sure your home isn't a source of financial stress. A good way to ensure that happens is to ready your finances beforehand. Know when it might be better to wait until your situation improves and when you're in a financially strong enough position to buy a home in Lafayette. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to streamline the process.
Examine your finances. Look at the whole picture. How do you feel about your savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. The best way to begin your Lafayette 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 play with some real numbers. Use Mr. Cooper's affordability calculator to see where your budget stands. You can calculate how much house you can afford in Lafayette based on income or your desired maximum monthly mortgage payment. Will this number get you into the Lafayette home or neighborhood you've had your eye on? If it's not, think about increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!
It's the right time to prequalify for a house in Lafayette. 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. Start with Mr. Cooper’s online prequalification tool. Let us know where you'd like to buy a home in Lafayette, 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. 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 Lafayette, don't forget to budget your time, too. Time is non-renewable and non-refundable, and discovering your perfect Lafayette home can really eat up the hours. Partner with a real estate agent in Lafayette who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Lafayette and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. 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.
Applying for a home loan is the final step in getting your finances ready for a home purchase. Can you see the finish line? Partner with a home loan servicer like Mr. Cooper, 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 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 Lafayette. Let's get you started on your path to homeownership!
- *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.