How to Afford to Buy a House in Statesville, NC

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Steps to Afford to Buy a Home in Statesville, NC

Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way to ensure that happens is to ready your finances beforehand. Be honest with yourself to determine if you can afford to buy a house in Statesville, or if you should hold off until your situation is different. Walk through the following steps to get started and call a Mr. Cooper Mortgage Professional to streamline the process.

Examine your finances. Look at the whole picture. How do you feel about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A good way to start your Statesville 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. Use Mr. Cooper's affordability calculator to see where your budget stands. You can calculate how much house you can afford in Statesville based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Statesville home you've been dreaming about? If it's 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 time to prequalify for a home in Statesville. 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. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Statesville, 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.

Don't forget to budget your time when doing the math on how you can afford to buy a house in Statesville. Time is non-renewable and non-refundable, and discovering your perfect Statesville home can really eat up the hours. Turn to a real estate agent in Statesville who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Statesville and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. Estimate how much you may be able to save on real estate commissions and closing costs with Mr. Cooper’s Real Estate Rewards calculator.

The last step in preparing your finances to buy a house in Statesville is to apply for a home loan. You're almost at the finish line! Work with a home loan servicer like Mr. Cooper, and you'll gain the distinct advantage of one-on-one support all along the way—from loan to closing. 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. Get your finances ready to buy a home in Statesville and give us a call. Let's get you started on your path to homeownership!

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