Money Wise Tips for Affording a Home in White Lake, MI
Help make sure your home isn't a source of financial stress. 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. Be honest with yourself to determine if you can afford to buy a house in White Lake, or if you should hold off until your situation is different. Start the process with the following steps 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 current monthly expenses, credit history, and savings? A quick check-in with yourself can get you on the right path. A good way to begin your White Lake 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 play with some real numbers. Use Mr. Cooper's affordability calculator to see where your budget stands. You can get an idea of how much house you can afford to buy in White Lake based on your desired maximum monthly mortgage payment and income. Will this price range get you into the White Lake home you've been dreaming about? If not, consider increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!
It's time to prequalify for a home in White Lake. 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 White Lake, 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. Share a couple more personal details and you're almost prequalified. The process is straightforward. Prequalification lasts 120 days.
When crunching the numbers on how you'll afford to buy a home in White Lake, 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 White Lake. Join forces with a real estate agent in White Lake who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in White Lake and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it! See just how much you could 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.
"Home" has never mattered more than it does right now. Call now and let us help you ready your finances to buy a house in White Lake. You can start on the path to homeownership today!
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.