How to Afford to Buy a House in Smithfield, NC

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Money Wise Tips for Affording a Home in Smithfield, NC

Your home should be a retreat from the worries of the world, not a place where new worries begin. 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 Smithfield, or if you should hold off until your situation is different. Get started with the following steps and call a Mr. Cooper Mortgage Professional to discuss strategy.

Examine your finances. Look at the whole picture. What are your general thoughts about your savings, current debt, monthly expenses, and credit history? A quick reality check goes a long way. A solid way to start your Smithfield 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. 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 Smithfield based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Smithfield home you want? If not, consider 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 Smithfield. 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. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Smithfield, 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 straightforward. Prequalification lasts 120 days.

Don't forget to budget your time when doing the math on how you can afford to buy a house in Smithfield. Minutes and seconds are things you never get back, and looking for the perfect home in Smithfield can be time-consuming. Join forces with a real estate agent in Smithfield who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Smithfield and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. 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 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're pros when it comes to what it takes to buy a house and will work hard to find the right loan for you.

The house of your dreams is waiting for you and your loved ones. Call now and let us help you ready your finances to buy a house in Smithfield. You can start on the path to homeownership today!

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