Learn How to Better Afford a Home in Severn, MD

Busy? Have us call you back. Call Me Back

More Information

Your Step-by-Step Guide to Afford to Buy a House in Severn, MD

You want your home to be a haven of happiness, not a financial burden. One of the best ways to make sure that happens is to prepare for your home purchase ahead of time. Know when you can afford to buy a home in Severn, and when it might be better to wait until your situation changes. Walk through the following steps to get started and call a Mr. Cooper Mortgage Professional to talk strategy.

Evaluate every angle of your finances. What are your general thoughts about your savings, current debt, monthly expenses, and credit history? A quick reality check goes a long way. A good way to begin your Severn 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 pencil to paper," as they say. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can calculate how much house you can afford in Severn based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Severn home you want? 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 Severn. 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. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Start with Mr. Cooper’s online prequalification tool. Let us know where you'd like to buy a home in Severn, 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. Share a couple more 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 Severn, factor in your time, too. Time is non-renewable and non-refundable, and looking for the perfect home in Severn can be time-consuming. Partner with a real estate agent in Severn who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Severn and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. 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.

The last step in preparing your finances to buy a house in Severn is to apply for a home loan. The finish line is right around the corner! Let a home loan servicer like Mr. Cooper guide you in the process 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.

The house of your dreams is waiting for you and your loved ones. Get your finances ready to buy a home in Severn and give us a call. Let's get you started on your path to homeownership!

Severn, MD Mr. Cooper Customer Reviews

Read real stories from real Mr. Cooper home buyers and sellers in Severn, MD. Then contact us to see what we can do for you.

Simplify the home buying or selling process in Severn with Mr. Cooper.

Put Mr. Cooper in your corner for a better home buying or selling experience.