Money Wise Tips for Buying a Home in White Plains, NY
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. Be honest with yourself to determine if you can buy a house in White Plains, or if you should hold off until your situation is different. Get started with the following steps and reach out to 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. The best way to start your White Plains 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. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can estimate about how much house you can buy in White Plains based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the White Plains home you want? If not, consider looking in surrounding areas or increasing 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 get pre-approved for a home in White Plains. Pre-approval is a more formal estimate of how much of a home loan you could get approved for. It's calculated based on a credit check and a couple of financial details you provide. The pre-approval 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 pre-approval tool. Let us know where you’re looking to buy a home in White Plains, 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 pre-approved. The process is straightforward. Pre-approval lasts 120 days.
When figuring out what it will take to buy a home in White Plains, don't forget to budget your time, too. Time is non-renewable and non-refundable, and looking for the perfect home in White Plains can be time-consuming. Join forces with a real estate agent in White Plains who does the legwork for you.
Applying for a home loan is the final step in getting your finances ready for a home purchase. You're almost at 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're pros when it comes to what it takes to buy a house and will work hard to find the right loan for you.
Your dream home, or as we like to say, "The One" is waiting for you! Get your finances ready to buy a home in White Plains and give us a call. You can start on the path to homeownership today!