Can You Afford to Buy a House in Great Falls, MT?

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Steps to Afford to Buy a Home in Great Falls, MT

You want your home to be a haven of happiness, not a financial burden. A great way to ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Great Falls, and when it might be better to wait until your situation changes. Walk through the following steps to get started and call a Mr. Cooper Mortgage Professional to streamline the process.

Examine your finances. Look at the whole picture. How do you feel about your savings, current debt, monthly expenses, and credit history? A quick reality check goes a long way. A good way to begin your Great Falls 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. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can estimate about how much house you can afford in Great Falls based on your desired maximum monthly mortgage payment and income. Will this number get you into the Great Falls home or neighborhood you've had your eye on? If it's not, think about 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 Great Falls. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Great Falls, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected purchase price and down payment. Share a couple more personal details and you’re on your way to getting prequalified. The process is straightforward. Prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Great Falls, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and finding your perfect house can be time-consuming, especially in Great Falls. Turn to a real estate agent in Great Falls who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Great Falls real estate agent and potentially save thousands of dollars.* Try it—there's no strings attached. See just how much you could save on real estate commissions and closing costs with Mr. Cooper’s Real Estate Rewards calculator.

Applying for a home loan is the last step in preparing your finances for a home purchase. The finish line is right around the corner! 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'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. Call now and let us help you ready your finances to buy a house in Great Falls. Let's get you started on your path to homeownership!

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