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

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Your Step-by-Step Guide to Afford to Buy a House in Portage, IN

Help make sure your home isn't a source of financial stress. A great way to ensure that happens is to ready your finances beforehand. Be honest with yourself to determine if you can afford to buy a house in Portage, or if you should hold off until your situation is different. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to talk strategy.

Take a look at your finances—the whole landscape. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. A solid way to start your Portage 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 get an idea of how much house you can afford to buy in Portage based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Portage home you want? If it's not, think about increasing your down payment or looking in surrounding areas. If it will, then take the next step in the homeownership journey with Mr. Cooper!

You're ready to prequalify for a house in Portage. 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. Prequalification is also an opportunity to learn more about your various mortgage options and determine which one is right for you. Get started using Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Portage, 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. Provide a few more personal details and you're clicks away from being prequalified. It's a simple process and prequalification lasts 120 days.

Don't forget to budget your time when doing the math on how you can afford to buy a house in Portage. Your time is one resource that's non-refundable and non-renewable, and finding your perfect house can be time-consuming, especially in Portage. Partner with a real estate agent in Portage who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Portage real estate agent and potentially save thousands of dollars.* Give it a try. See just how much you could 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. The finish line is right around the corner! Let a home loan servicer like Mr. Cooper guide you in the process 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 know the details of buying a home, inside and out, and will work to find the loan that fits you best.

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

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