Can You Afford to Buy a House in Milwaukie, OR?

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Money Wise Tips for Affording a Home in Milwaukie, OR

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 Milwaukie, or if you should hold off until your situation is different. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to talk strategy.

Take a look at your finances—the whole landscape. Are you confident about your savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. The best way to start your Milwaukie home buying journey is with confidence, a strong credit history, enough savings for a down payment, and a good handle on your current expenses.

Now, let's put some real numbers down. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can estimate about how much house you can afford in Milwaukie based on income or your desired maximum monthly mortgage payment. Will this number get you into the Milwaukie home or neighborhood you've had your eye on? 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 time to prequalify for a home in Milwaukie. 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’re looking to buy a home in Milwaukie, the type of property you’d like to buy, how you plan on using the property, and if you’re currently working with a real estate agent. Type in your likely purchase price and down payment. Provide a few more personal details and you're clicks away from being prequalified. The process is straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Milwaukie, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and looking for the perfect home in Milwaukie can be time-consuming. Turn to a real estate agent in Milwaukie who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Milwaukie and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. 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 Milwaukie is to apply for a home loan. Can you see the finish line? Let a home loan servicer like Mr. Cooper guide you in the process 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.

"Home" has never mattered more than it does right now. Get your finances ready to buy a home in Milwaukie and give us a call. You can start on the path to homeownership today!

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