Learn How to Better Afford a Home in Wake Forest, NC

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Money Wise Tips for Affording a Home in Wake Forest, NC

You want your home to be a haven of happiness, not a financial burden. A great way to make that happen is to be financially prepared for your home purchase before you set foot in an open house. 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 Wake Forest. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to discuss strategy.

Evaluate every angle of your finances. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A quick check-in with yourself can get you on the right path. A good way to begin your Wake Forest home buying journey is with adequate savings for a down payment, a strong credit history, and a good grasp on your everyday expenses.

Now, let's "put pencil to paper," as they say. Use Mr. Cooper's affordability calculator to see where your budget stands. You can get an idea of how much house you can afford to buy in Wake Forest based on income or your desired maximum monthly mortgage payment. Will this number get you into the Wake Forest home or neighborhood you've had your eye on? 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 Wake Forest. 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 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'd like to buy a home in Wake Forest, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. 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 straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Wake Forest, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Wake Forest home can really eat up the hours. Partner with a real estate agent in Wake Forest who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Wake Forest and potentially save thousands.* Try it! Get an idea of how much you might be able to save on closing costs and real estate commissions with Mr. Cooper’s Real Estate Rewards calculator.

The last step in preparing your finances to buy a house in Wake Forest is to apply for a home loan. You're almost at the finish line! Partner 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 today. 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 Wake Forest. Let's get you started on your path to homeownership!

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