How to Afford to Buy a House in Chesterfield, MI

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Money Wise Tips for Affording a Home in Chesterfield, MI

Help make sure your home isn't a source of financial stress. A good way to ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Chesterfield, 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.

Examine your finances. Look at the whole picture. What are your general thoughts about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A good way to begin your Chesterfield 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 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 Chesterfield based on your desired maximum monthly mortgage payment and income. Will this number get you into the Chesterfield home or neighborhood you've had your eye on? If it's not, think about 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!

It's time to prequalify for a home in Chesterfield. 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'd like to buy a home in Chesterfield, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. Enter your expected down payment and purchase price. Follow that information with a few personal details and you’re on your way to getting 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 Chesterfield, factor in your time, too. Minutes and seconds are things you never get back, and discovering your perfect Chesterfield home can really eat up the hours. Join forces with a real estate agent in Chesterfield who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Chesterfield 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 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. Can you see 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 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.

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

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