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

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Steps to Afford to Buy a Home in Salisbury, 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. Be honest with yourself to determine if you can afford to buy a house in Salisbury, or if you should hold off until your situation is different. Start the process with the following steps and reach out to a Mr. Cooper Mortgage Professional to discuss strategy.

Evaluate every angle of your finances. How do you feel about your savings, current debt, monthly expenses, and credit history? A quick check-in with yourself can get you on the right path. The best way to begin your Salisbury 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. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can get an idea of how much house you can afford to buy in Salisbury based on income or your desired maximum monthly mortgage payment. Will this number get you into the Salisbury home or neighborhood you've had your eye on? If not, think about increasing your down payment or looking in surrounding areas. If it will, then take the next step in the homeownership journey with Mr. Cooper!

It's the right time to prequalify for a house in Salisbury. Prequalification 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. 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 want to buy a house in Salisbury, 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. Share a couple more 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 Salisbury, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and finding your perfect house can be time-consuming, especially in Salisbury. Turn to a real estate agent in Salisbury who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Salisbury and potentially save thousands.* Give it a try. See just how much you could save on closing costs and real estate commissions 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. Can you see 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 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 Salisbury and give us a call. The path to homeownership is right in front of you!

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