Can You Afford to Buy a House in Durham, NH?

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Steps to Afford to Buy a Home in Durham, NH

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 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 Durham. Get started with the following steps and contact a Mr. Cooper Mortgage Professional to streamline the process.

Take a look at your finances—the whole landscape. How do you feel about your financial situation, credit history, savings, and current monthly expenses? A quick check-in with yourself can get you on the right path. A solid way to start your Durham home buying journey is with confidence, a strong credit history, enough savings for a down payment, and a good handle on your current expenses.

Now, let's put some real numbers down. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in Durham based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Durham home you want? 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 the right time to prequalify for a house in Durham. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Durham, 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. Follow that information with a few personal details and you’re on your way to getting prequalified. The process is straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Durham, don't forget to budget your time, too. Minutes and seconds are things you never get back, and finding your perfect house can be time-consuming, especially in Durham. Join forces with a real estate agent in Durham who does the legwork for you. You can get connected with a top-performing real estate agent in Durham and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. Get an idea of how much you might be able to 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 Durham is to apply for a home loan. 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. 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 Durham. You can start on the path to homeownership today!

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