Learn How to Better Afford a Home in Long Beach, NY

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Your Step-by-Step Guide to Afford to Buy a House in Long Beach, NY

You want your home to be a haven of happiness, not a financial burden. A good way to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Be honest with yourself to determine if you can afford to buy a house in Long Beach, or if you should hold off until your situation is different. Walk through the following steps to get started and contact 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 solid way to start your Long Beach 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 Long Beach based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Long Beach home you want? If not, think about increasing your down payment or looking in surrounding areas. 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 the right time to prequalify for a house in Long Beach. 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. Get started using Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Long Beach, 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. Share a couple more 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 Long Beach, factor in your time, too. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Long Beach. Partner with a real estate agent in Long Beach who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Long Beach real estate agent and potentially save thousands of dollars.* Try it! Estimate how much you may be able to 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. You're almost at the finish line! Work with a home loan servicer like Mr. Cooper, and you'll receive one-on-one support throughout the home loan, purchase, and closing process. Call Mr. Cooper Mortgage Professionals. They know the details of buying a home, inside and out, and will work to find the loan that fits you best.

"Home" has never mattered more than it does right now. Call now and let us help you ready your finances to buy a house in Long Beach. You can start on the path to homeownership today!

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