Can You Afford to Buy a House in Lemay, MO?

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Steps to Afford to Buy a Home in Lemay, MO

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 Lemay, or if you should hold off until your situation is different. 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. Are you confident about your current monthly expenses, credit history, and savings? A quick reality check goes a long way. The best way to start your Lemay 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. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in Lemay based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Lemay home you've been dreaming about? If it's not, think about increasing your down payment or looking in surrounding areas. If it will, then take the next step in the homeownership journey with Mr. Cooper!

You're ready to prequalify for a house in Lemay. 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 Lemay, 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 straightforward. Prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Lemay, factor in your time, too. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Lemay. Partner with a real estate agent in Lemay who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Lemay real estate agent and potentially save thousands of dollars.* Give it a try. See just how much you could save on closing costs and real estate commissions with Mr. Cooper’s Real Estate Rewards calculator.

The last step in preparing your finances to buy a house in Lemay is to apply for a home loan. Can you see the finish line? Let a home loan servicer like Mr. Cooper guide you in the process and you'll receive one-on-one support throughout the home loan, purchase, and closing process. 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.

"Home" has never mattered more than it does right now. Get your finances ready to buy a home in Lemay and give us a call. You can start on the path to homeownership today!

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