Can You Afford to Buy a House in Creve Coeur, MO?

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Steps to Afford to Buy a Home in Creve Coeur, MO

You want your home to be a haven of happiness, not a financial burden. A good way to make sure that happens is to prepare for your home purchase ahead of time. Know when you can afford to buy a home in Creve Coeur, and when it might be better to wait until your situation changes. Start the process with the following steps and reach out to a Mr. Cooper Mortgage Professional to discuss 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 quick check-in with yourself can get you on the right path. A good way to begin your Creve Coeur 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 get an idea of how much house you can afford to buy in Creve Coeur based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Creve Coeur home you want? If not, consider 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 Creve Coeur. 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. Prequalification is also an opportunity to learn more about your various mortgage options and determine which one is right for you. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Creve Coeur, the property type, how you're going to use the property, and if you currently have a real estate agent. Type in your likely purchase price and down payment. Follow that information with a few personal details and you’re on your way to getting prequalified. It's a simple process and 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 Creve Coeur. Time is non-renewable and non-refundable, and discovering your perfect Creve Coeur home can really eat up the hours. Join forces with a real estate agent in Creve Coeur who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Creve Coeur and potentially save thousands.* 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 final step in getting your finances ready for a home purchase. You're almost at the finish line! Partner 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 know the details of buying a home, inside and out, and will work to find the loan that fits you best.

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 Creve Coeur. You can start on the path to homeownership today!

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