How to Afford to Buy a House in Shrewsbury, MA

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Your Step-by-Step Guide to Afford to Buy a House in Shrewsbury, MA

You want your home to be a haven of happiness, not a financial burden. One of the best ways to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Know when you can afford to buy a home in Shrewsbury, and when it might be better to wait until your situation changes. Start the process with the following steps and contact a Mr. Cooper Mortgage Professional to discuss strategy.

Evaluate every angle of your finances. Are you confident about your savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. A good way to start your Shrewsbury 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. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can estimate about how much house you can afford in Shrewsbury based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Shrewsbury home you've been dreaming about? If not, think about 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 Shrewsbury. 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. Start with Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Shrewsbury, 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 on your way to getting prequalified. It's a simple process and prequalification lasts 120 days.

Don't forget to budget your time when doing the math on how you can afford to buy a house in Shrewsbury. Minutes and seconds are things you never get back, and looking for the perfect home in Shrewsbury can be time-consuming. Partner with a real estate agent in Shrewsbury 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 Shrewsbury and potentially save thousands.* Try it! Estimate how much you may be able to save on closing costs and real estate commissions with Mr. Cooper’s Real Estate Rewards calculator.

The last step in preparing your finances to buy a house in Shrewsbury 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 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 are home buying experts who will work their hardest to present you with the best loan options possible.

"Home" has never mattered more than it does right now. Get your finances ready to buy a home in Shrewsbury and give us a call. You can start on the path to homeownership today!

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