Can You Afford to Buy a House in Murphy, NC?

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Money Wise Tips for Affording a Home in Murphy, NC

Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way to make sure that happens is to prepare for your home purchase ahead of time. 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 Murphy. Start the process with the following steps and contact a Mr. Cooper Mortgage Professional to talk strategy.

Examine your finances. Look at the whole picture. What are your general thoughts about your current monthly expenses, credit history, and savings? A quick check-in with yourself can get you on the right path. A solid way to begin your Murphy 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 pencil to paper," as they say. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can calculate how much house you can afford in Murphy based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Murphy home you've been dreaming about? If it's not, think about 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 the right time to prequalify for a house in Murphy. 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 Murphy, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected down payment and purchase price. Provide a few more personal details and you're almost prequalified. The process is straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Murphy, don't forget to budget your time, too. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Murphy. Partner with a real estate agent in Murphy who does the legwork for you. You can get connected with a top-performing real estate agent in Murphy and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it! 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.

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. Get your finances in order to buy a house in Murphy. The path to homeownership is right in front of you!

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