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

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Money Wise Tips for Affording a Home in Woodburn, OR

Your home should be a retreat from the worries of the world, not a place where new worries begin. A good way to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Be honest with yourself to determine if you can afford to buy a house in Woodburn, or if you should hold off until your situation is different. Get started with the following steps and contact a Mr. Cooper Mortgage Professional to discuss strategy.

Examine your finances. Look at the whole picture. How do you feel about your current monthly expenses, credit history, and savings? A quick reality check goes a long way. A solid way to start your Woodburn 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 play with some real numbers. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can calculate how much house you can afford in Woodburn based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Woodburn home you want? If not, consider increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!

It's the right time to prequalify for a house in Woodburn. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's calculated based on a credit check and a couple of financial details you provide. Prequalification is also an opportunity to learn more about your various mortgage options and determine which one is right for you. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Woodburn, 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. Follow that information with a few personal details and you're clicks away from being prequalified. It's a simple process and prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Woodburn, 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 Woodburn can be time-consuming. Partner with a real estate agent in Woodburn who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Woodburn and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. Estimate how much you may 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 Woodburn is to apply for a home loan. Can you see the finish line? Work 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. They are home buying experts who will work their hardest to present you with the best loan options possible.

The house of your dreams is waiting for you and your loved ones. Get your finances in order to buy a house in Woodburn. Let's get you started on your path to homeownership!

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