Learn How to Better Afford a Home in Florence, KY

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Steps to Afford to Buy a Home in Florence, KY

Help make sure your home isn't a source of financial stress. One of the best ways to ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Florence, and when it might be better to wait until your situation changes. Walk through the following steps to get started and contact a Mr. Cooper Mortgage Professional to discuss strategy.

Take a look at your finances—the whole landscape. Are you confident about your savings, current debt, monthly expenses, and credit history? A quick check-in with yourself can get you on the right path. A good way to begin your Florence 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 put some real numbers down. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can estimate about how much house you can afford in Florence based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Florence home you've been dreaming about? If not, consider looking in surrounding areas or increasing 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 Florence. 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. 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 want to buy a house in Florence, the property type, how you're going to use the property, and if you currently have a real estate agent. Type in your likely purchase price and down payment. Follow that information with a few personal details and you're almost prequalified. The process is straightforward. Prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Florence, factor in your time, too. Time is non-renewable and non-refundable, and looking for the perfect home in Florence can be time-consuming. Partner with a real estate agent in Florence who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Florence real estate agent and potentially save thousands of dollars.* Try it! See just how much you could save on closing costs and real estate commissions 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're pros when it comes to what it takes to buy a house and will work hard to find the right loan for you.

The house of your dreams is waiting for you and your loved ones. Get your finances in order to buy a house in Florence. The path to homeownership is right in front of you!

Mr. Cooper Customer Reviews for Florence, KY

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