Learn How to Better Afford a Home in Newport, KY

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Steps to Afford to Buy a Home in Newport, KY

You want your home to be a haven of happiness, not a financial burden. One of the best ways 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 Newport, or if you should hold off until your situation is different. Start the process with the following steps and reach out to a Mr. Cooper Mortgage Professional to streamline the process.

Evaluate every angle of your finances. How do you feel about your savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. A solid way to start your Newport 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 Newport based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Newport home you want? If it's not, think about 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 Newport. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Newport, 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.

Don't forget to budget your time when doing the math on how you can afford to buy a house in Newport. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Newport home can really eat up the hours. Join forces with a real estate agent in Newport who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Newport and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it! See just how much you could save on real estate commissions and closing costs with Mr. Cooper’s Real Estate Rewards calculator.

The last step in preparing your finances to buy a house in Newport is to apply for a home loan. The finish line is right around the corner! Partner 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. They are home buying experts who will work their hardest to present you with the best loan options possible.

"Home" has never mattered more than it does right now. Call now and let us help you ready your finances to buy a house in Newport. Let's get you started on your path to homeownership!

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