Can You Afford to Buy a House in Shively, KY?

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Steps to Afford to Buy a Home in Shively, KY

Help make sure your home isn't a source of financial stress. A good way to make sure that happens is to prepare for your home purchase ahead of time. 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 Shively. Get started with the following steps and call a Mr. Cooper Mortgage Professional to discuss strategy.

Examine your finances. Look at the whole picture. What are your general thoughts about your current monthly expenses, credit history, and savings? A quick check-in with yourself can get you on the right path. The best way to begin your Shively 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. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can get an idea of how much house you can afford to buy in Shively based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Shively home you want? If not, think about looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!

It's the right time to prequalify for a house in Shively. 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. Get started using Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Shively, 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. Enter your expected purchase price and down payment. Share a couple more personal details and you’re on your way to getting prequalified. The process is straightforward. Prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Shively, factor in your time, too. Minutes and seconds are things you never get back, and finding your perfect house can be time-consuming, especially in Shively. Partner with a real estate agent in Shively who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Shively and potentially save thousands.* 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! Work with a home loan servicer like Mr. Cooper, and you'll receive one-on-one support throughout the home loan, purchase, and closing process. Call Mr. Cooper Mortgage Professionals. They are home buying experts who will work their hardest to present you with the best loan options possible.

Your dream home, or as we like to say, "The One" is waiting for you! Call now and let us help you ready your finances to buy a house in Shively. You can start on the path to homeownership today!

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