How to Afford to Buy a House in Columbus, MS

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Steps to Afford to Buy a Home in Columbus, MS

You want your home to be a haven of happiness, not a financial burden. 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 Columbus, or if you should hold off until your situation is different. Get started with the following steps and call a Mr. Cooper Mortgage Professional to talk strategy.

Take a look at your finances—the whole landscape. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A little "gut check" can go a long way. A solid way to begin your Columbus 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. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can get an idea of how much house you can afford to buy in Columbus based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Columbus home you've been dreaming about? 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 the right time to prequalify for a house in Columbus. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's based on some financial information you provide and a credit check. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Columbus, 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 purchase price and down payment. Follow that information with a few personal details and you're almost prequalified. The process is straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Columbus, don't forget to budget your time, too. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Columbus. Partner with a real estate agent in Columbus who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Columbus 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. The finish line is right around the corner! Let a home loan servicer like Mr. Cooper guide you in the process 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. Get your finances ready to buy a home in Columbus and give us a call. The path to homeownership is right in front of you!

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