How to Afford to Buy a House in New Franklin, OH

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Money Wise Tips for Affording a Home in New Franklin, OH

Help make sure your home isn't a source of financial stress. A great way to make sure that happens is to prepare for your home purchase ahead of time. 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 New Franklin. Get started with the following steps and call a Mr. Cooper Mortgage Professional to streamline the process.

Evaluate every angle of your finances. Are you confident about your current monthly expenses, credit history, and savings? A quick check-in with yourself can get you on the right path. A good way to start your New Franklin 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 play with some real numbers. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can calculate how much house you can afford in New Franklin based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the New Franklin home you want? If not, consider buying a house in a surrounding area or boosting your down payment. If it will, then take the next step in the homeownership journey with Mr. Cooper!

It's time to prequalify for a home in New Franklin. 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you want to buy a house in New Franklin, 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 simple and your prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in New Franklin, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect New Franklin home can really eat up the hours. Join forces with a real estate agent in New Franklin who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in New Franklin 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 New Franklin 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 receive one-on-one support throughout the home loan, purchase, and closing process. Call Mr. Cooper Mortgage Professionals today. 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 ready to buy a home in New Franklin and give us a call. Let's get you started on your path to homeownership!

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