How to Afford to Buy a House in Auburn Hills, MI

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Money Wise Tips for Affording a Home in Auburn Hills, MI

Help make sure your home isn't a source of financial stress. One of the best ways to ensure that happens is to ready your finances beforehand. Be honest with yourself to determine if you can afford to buy a house in Auburn Hills, or if you should hold off until your situation is different. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to talk strategy.

Evaluate every angle of your finances. Are you confident about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A solid way to begin your Auburn Hills 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 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 estimate about how much house you can afford in Auburn Hills based on income or your desired maximum monthly mortgage payment. Will this number get you into the Auburn Hills home or neighborhood you've had your eye on? If not, consider buying a house in a surrounding area or boosting 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 Auburn Hills. 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. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Auburn Hills, the property type, how you're going to use the property, and if you currently have a real estate agent. Type in your likely purchase price and down payment. Share a couple 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 Auburn Hills, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and finding your perfect house can be time-consuming, especially in Auburn Hills. Join forces with a real estate agent in Auburn Hills who does the legwork for you. You can get connected with a top-performing real estate agent in Auburn Hills and potentially save thousands with Mr. Cooper® Real Estate Rewards.* 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.

Applying for a home loan is the last step in preparing your finances for a home purchase. You're almost at the finish line! Work with a home loan servicer like Mr. Cooper, and you'll gain the distinct advantage of one-on-one support all along the way—from loan to closing. 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.

The house of your dreams is waiting for you and your loved ones. Get your finances ready to buy a home in Auburn Hills and give us a call. You can start on the path to homeownership today!

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