How to Afford to Buy a House in Yorktown, NY

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Steps to Afford to Buy a Home in Yorktown, 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 afford to buy a house in Yorktown, or if you should hold off until your situation is different. Get started with the following steps 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 financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. The best way to start your Yorktown home buying journey is with a healthy credit history, a good handle on your current expenses, and enough savings for a minimum 20% down payment.

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 estimate about how much house you can afford in Yorktown based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Yorktown home you want? If not, think about looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!

It's time to prequalify for a home in Yorktown. 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 Yorktown, 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 purchase price and down payment. Follow that information with a few personal details and you're clicks away from being prequalified. The process is simple and your prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Yorktown, factor in your time, too. Minutes and seconds are things you never get back, and discovering your perfect Yorktown home can really eat up the hours. Turn to a real estate agent in Yorktown who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Yorktown and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it! Estimate how much you may 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 Yorktown is to apply for a home loan. You're almost at the finish line! Partner 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 are home buying experts who will work their hardest to present you with the best loan options possible.

The house of your dreams is waiting for you and your loved ones. Get your finances in order to buy a house in Yorktown. Let's get you started on your path to homeownership!

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