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

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Money Wise Tips for Affording a Home in Waxhaw, NC

Help make sure your home isn't a source of financial stress. 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 Waxhaw, 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 discuss strategy.

Examine your finances. Look at the whole picture. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A little "gut check" can go a long way. A solid way to start your Waxhaw 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 get an idea of how much house you can afford to buy in Waxhaw based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Waxhaw home you want? If not, consider 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!

You're ready to prequalify for a house in Waxhaw. 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 want to buy a house in Waxhaw, 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. Share a couple 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 Waxhaw. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Waxhaw. Join forces with a real estate agent in Waxhaw who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Waxhaw and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. Estimate how much you may be able to 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. You're almost at 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 are home buying experts who will work their hardest to present you with the best loan options possible.

Your dream home, or as we like to say, "The One" is waiting for you! Get your finances in order to buy a house in Waxhaw. The path to homeownership is right in front of you!

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