Steps to Afford to Buy a Home in Dedham, MA
Help make sure your home isn't a source of financial stress. A great way to ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Dedham, and when it might be better to wait until your situation changes. Start the process 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 savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. A solid way to start your Dedham 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 play with some real numbers. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can get an idea of how much house you can afford to buy in Dedham based on income or your desired maximum monthly mortgage payment. Will this number get you into the Dedham home or neighborhood you've had your eye on? If not, consider looking in surrounding areas or increasing your down payment. If it's a good number, then call Mr. Cooper. It's time to move on to the next step in the homeownership journey!
You're ready to prequalify for a house in Dedham. 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 an opportunity to learn more about your various mortgage options and determine which one is right for you. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Dedham, 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. Share a couple more personal details and you're clicks away from being prequalified. It's a simple process and prequalification lasts 120 days.
When crunching the numbers on how you'll afford to buy a home in Dedham, factor in your time, too. Minutes and seconds are things you never get back, and looking for the perfect home in Dedham can be time-consuming. Partner with a real estate agent in Dedham who does the bulk of the work for you.
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 receive one-on-one support throughout the home loan, purchase, and closing process. Call Mr. Cooper Mortgage Professionals today. 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.
"Home" has never mattered more than it does right now. Get your finances in order to buy a house in Dedham. Let's get you started on your path to homeownership!