Learn How to Better Afford a Home in St. Clair Shores, MI

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Money Wise Tips for Affording a Home in St. Clair Shores, 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 St. Clair Shores, and when it might be better to wait until your situation changes. Get started with the following steps and contact a Mr. Cooper Mortgage Professional to streamline the process.

Examine your finances. Look at the whole picture. How do you feel about your savings, current debt, monthly expenses, and credit history? A quick check-in with yourself can get you on the right path. The best way to begin your St. Clair Shores 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 pencil to paper," as they say. 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 St. Clair Shores based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the St. Clair Shores home you want? If not, think about buying a house in a surrounding area or boosting your down payment. If it will, then move on to your next step. Call Mr. Cooper!

It's time to prequalify for a home in St. Clair Shores. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's the result of some financial details 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 St. Clair Shores, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected down payment and purchase price. Provide a few more personal details and you’re on your way to getting prequalified. The process is simple and your prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in St. Clair Shores, don't forget to budget your time, too. Minutes and seconds are things you never get back, and finding your perfect house can be time-consuming, especially in St. Clair Shores. Partner with a real estate agent in St. Clair Shores who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in St. Clair Shores and potentially save thousands.* Try it—there's no strings attached. 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. Can you see the finish line? Work with a home loan servicer like Mr. Cooper, and you'll receive one-on-one support throughout the home loan, purchase, and closing process. Call Mr. Cooper Mortgage Professionals. 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 St. Clair Shores. Let's get you started on your path to homeownership!

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