How to Afford to Buy a House in Shelby, NC

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Your Step-by-Step Guide to Afford to Buy a House in Shelby, NC

Help make sure your home isn't a source of financial stress. One of the best ways 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 Shelby, or if you should hold off until your situation is different. Walk through the following steps to get started and contact a Mr. Cooper Mortgage Professional to streamline the process.

Examine your finances. Look at the whole picture. Are you confident about your savings, current debt, monthly expenses, and credit history? A quick check-in with yourself can get you on the right path. A solid way to start your Shelby 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 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 afford in Shelby based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Shelby home you want? If it's not, think about looking in surrounding areas or increasing your down payment. 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 Shelby. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's based on some financial information you provide and a credit check. Prequalification is also an opportunity to learn more about your various mortgage options and determine which one is right for you. Start with Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Shelby, 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. Follow that information with a few personal details and you’re on your way to getting prequalified. It's a simple process and prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Shelby, don't forget to budget your time, too. Minutes and seconds are things you never get back, and discovering your perfect Shelby home can really eat up the hours. Partner with a real estate agent in Shelby who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Shelby real estate agent and potentially save thousands of dollars.* Try it—there's no strings attached. See just how much you could save on real estate commissions and closing costs with Mr. Cooper’s Real Estate Rewards calculator.

Applying for a home loan is the final step in getting your finances ready for a home purchase. Can you see 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.

Your dream home, or as we like to say, "The One" is waiting for you! Get your finances ready to buy a home in Shelby and give us a call. The path to homeownership is right in front of you!

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