Learn How to Better Afford a Home in St. Joseph, MO

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Steps to Afford to Buy a Home in St. Joseph, MO

Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way to ensure that happens is to ready your finances beforehand. 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. Joseph. Walk through the following steps to get started and call a Mr. Cooper Mortgage Professional to talk strategy.

Evaluate every angle of your finances. What are your general thoughts about your savings, current debt, monthly expenses, and credit history? A quick reality check goes a long way. A solid way to begin your St. Joseph 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 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 St. Joseph based on income or your desired maximum monthly mortgage payment. Will this price range get you into the St. Joseph 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 move on to your next step. Call Mr. Cooper!

You're ready to prequalify for a house in St. Joseph. 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. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Start with Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in St. Joseph, 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. It's a simple process and prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in St. Joseph, don't forget to budget your time, too. Time is non-renewable and non-refundable, and looking for the perfect home in St. Joseph can be time-consuming. Partner with a real estate agent in St. Joseph who does the legwork for you. You can get connected with a top-performing real estate agent in St. Joseph and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. 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.

The last step in preparing your finances to buy a house in St. Joseph 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 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 ready to buy a home in St. Joseph and give us a call. Let's get you started on your path to homeownership!

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