How to Afford to Buy a House in St. Charles, MO

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Steps to Afford to Buy a Home in St. Charles, 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 it might be better to wait until your situation improves and when you're in a financially strong enough position to buy a home in St. Charles. Start the process with the following steps and reach out to a Mr. Cooper Mortgage Professional to talk strategy.

Take a look at your finances—the whole landscape. Are you confident about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A good way to begin your St. Charles 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. 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 St. Charles based on your desired maximum monthly mortgage payment and income. Will this number get you into the St. Charles home or neighborhood you've had your eye on? If it's not, think about looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!

You're ready to prequalify for a house in St. Charles. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's the result of some financial details 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’re looking to buy a home in St. Charles, 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. Share a couple more personal details and you're clicks away from being prequalified. The process is straightforward. 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 St. Charles. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect St. Charles home can really eat up the hours. Join forces with a real estate agent in St. Charles who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in St. Charles and potentially save thousands.* Try it! Estimate how much you may be able to 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 St. Charles 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 receive personalized support from the moment you dream of owning a home to the reality of holding the keys in your hand. Call Mr. Cooper Mortgage Professionals. They are home buying experts who will work their hardest to present you with the best loan options possible.

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 St. Charles. Let's get you started on your path to homeownership!

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