How to Afford to Buy a House in Kannapolis, NC

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Money Wise Tips for Affording a Home in Kannapolis, NC

Help make sure your home isn't a source of financial stress. A good way to make sure that happens is to prepare for your home purchase ahead of time. Know when you can afford to buy a home in Kannapolis, 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.

Take a look at your finances—the whole landscape. What are your general thoughts 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 Kannapolis 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 pencil to paper," as they say. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in Kannapolis based on income or your desired maximum monthly mortgage payment. Will this number get you into the Kannapolis home or neighborhood you've had your eye on? If 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 Kannapolis. 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. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Kannapolis, 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 simple and your prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Kannapolis, factor in your time, too. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Kannapolis. Partner with a real estate agent in Kannapolis who does the legwork for you. You can get connected with a top-performing real estate agent in Kannapolis and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. Get an idea of how much you might 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 Kannapolis is to apply for a home loan. Can you see the finish line? Let a home loan servicer like Mr. Cooper guide you in the process and you'll receive personalized support from the moment you dream of owning a home to the reality of holding the keys in your hand. 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! Get your finances in order to buy a house in Kannapolis. The path to homeownership is right in front of you!

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