Learn How to Better Afford a Home in Owensville, MO

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Money Wise Tips for Affording a Home in Owensville, MO

Your home should be a retreat from the worries of the world, not a place where new worries begin. 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 Owensville, or if you should hold off until your situation is different. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to talk strategy.

Examine your finances. Look at the whole picture. 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 Owensville 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 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 Owensville based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Owensville 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 will, then move on to your next step. Call Mr. Cooper!

It's time to prequalify for a home in Owensville. 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’re looking to buy a home in Owensville, 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. Follow that information with a few personal details and you're clicks away from being prequalified. The process is straightforward. Prequalification lasts 120 days.

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

The last step in preparing your finances to buy a house in Owensville is to apply for a home loan. You're almost at 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. 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.

The house of your dreams is waiting for you and your loved ones. Get your finances ready to buy a home in Owensville and give us a call. You can start on the path to homeownership today!

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