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Can You Afford to Buy a House in Oakdale, MN?

From down payments to closing costs, there are lots of numbers to crunch when buying a house in Oakdale. Let's break them down together.

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Money Wise Tips for Affording a Home in Oakdale, MN

You want your home to be a haven of happiness, not a financial burden. A great way to make sure that happens is to prepare for your home purchase ahead of time. Be honest with yourself to determine if you can afford to buy a house in Oakdale, or if you should hold off until your situation is different. Get started with the following steps and reach out to a Mr. Cooper Mortgage Professional to streamline the process.

Evaluate every angle of your finances. 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. The best way to begin your Oakdale 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. 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 Oakdale based on your desired maximum monthly mortgage payment and income. Will this number get you into the Oakdale home or neighborhood you've had your eye on? If not, consider 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 Oakdale. 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you’re looking to buy a home in Oakdale, 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. Enter your expected down payment and purchase price. Provide a few more personal details and you're almost prequalified. The process is simple and your 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 Oakdale. Minutes and seconds are things you never get back, and looking for the perfect home in Oakdale can be time-consuming. Join forces with a real estate agent in Oakdale who does the bulk of the work for you.

Applying for a home loan is the final step in getting your finances ready for a home purchase. The finish line is right around the corner! 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.

Your dream home, or as we like to say, "The One" is waiting for you! Call now and let us help you ready your finances to buy a house in Oakdale. Let's get you started on your path to homeownership!

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Buying a house in Oakdale? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers money at every stage of their journey, from real estate commissions to closing costs.