Can You Afford to Buy a House in Burlington, MA?

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Money Wise Tips for Affording a Home in Burlington, MA

Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way to ensure that happens is to ready your finances beforehand. 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 Burlington. Get started with the following steps and call a Mr. Cooper Mortgage Professional to streamline the process.

Evaluate every angle of your finances. 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 begin your Burlington home buying journey is with adequate savings for a down payment, a strong credit history, and a good grasp on your everyday expenses.

Now, let's play with some real numbers. 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 Burlington based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Burlington home you want? If not, consider increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!

It's the right time to prequalify for a house in Burlington. 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you’re looking to buy a home in Burlington, 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 almost prequalified. The process is simple and your prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Burlington, factor in your time, too. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Burlington. Join forces with a real estate agent in Burlington 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 Burlington and potentially save thousands.* 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.

Applying for a home loan is the final step in getting your finances ready for a home purchase. Can you see the finish line? Work with a home loan servicer like Mr. Cooper, and you'll receive personalized support from the moment you dream of owning a home to the reality of holding the keys in your hand. 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.

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 Burlington. The path to homeownership is right in front of you!

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