Your Step-by-Step Guide to Afford to Buy a House in Newton, MA
Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Be honest with yourself to determine if you can afford to buy a house in Newton, or if you should hold off until your situation is different. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to streamline the process.
Take a look at your finances—the whole landscape. How do you feel about your savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. The best way to begin your Newton 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 calculate how much house you can afford in Newton based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Newton home you've been dreaming about? If not, consider increasing your down payment or looking in surrounding areas. If it will, then take the next step in the homeownership journey with Mr. Cooper!
You're ready to prequalify for a house in Newton. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Newton, 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. The process is simple and your prequalification lasts 120 days.
When crunching the numbers on how you'll afford to buy a home in Newton, factor in your time, too. Time is non-renewable and non-refundable, and looking for the perfect home in Newton can be time-consuming. Partner with a real estate agent in Newton who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Newton real estate agent and potentially save thousands of dollars.* Give it a try. 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 last step in preparing your finances 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 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 know the details of buying a home, inside and out, and will work to find the loan that fits you best.
"Home" has never mattered more than it does right now. Get your finances in order to buy a house in Newton. The path to homeownership is right in front of you!
- *Buyer’s Bonus Credit (Xome Purchase Pro) Disclosure: Buyers may be eligible to receive a Buyer’s Bonus Credit/Xome Purchase Pro (“Credit”) equal to 15% of the buyer’s agent’s fee. The amount of the credit is based on commissions and determined by each agent. Credit will be documented in an agreement between agent and customer at the time of engagement. Credit must be disclosed to lender, seller, broker, appraiser, and other parties with an interest. Credit subject to written lender approval. Credit will be reflected in Purchase Agreement, Closing Disclosure, and other documents. Consult a tax professional regarding tax implications of Credit. Consult local broker for any state law requirements. Conditions: (a) Customer must complete purchase transaction using a Mr. Cooper Real Estate Rewards Agent; (b) Credit is subject to sales commission; (c) Credit is not available for properties marketed/listed through any auction process, including, www.xome.com; (d) Credit offer may be modified at any time via the Terms of Use but modifications will not apply to any transactions under contract; (e) Credit will be provided at the time of closing.
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- Mr. Cooper Real Estate Rewards is offered by Xome. Inc., an affiliate of Mr. Cooper. Referrals to Xome may provide a financial benefit to Mr. Cooper. You are not required to use a real estate agent on the Xome panel as a condition of receiving a loan from Mr. Cooper, and such use will have no impact on any loan application to Mr. Cooper.
- This is an advertisement and not intended as a solicitation for agent representation if your property is currently listed with an agent. Visit Xome's licensing page https://www.xome.com/auctions/licensing.
- Xome Inc. & Xome CT LLC [Davis E. Owen, Sr.‐Broker] (for CT properties] & Xome PR LLC (for PR properties), 750 Hwy 121 BYP, Suite 100, Lewisville, TX 75067.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.