Can You Afford to Buy a House in Drexel Hill, PA?

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Money Wise Tips for Affording a Home in Drexel Hill, PA

You want your home to be a haven of happiness, not a financial burden. A good way to make sure that happens is to prepare for your home purchase ahead of time. Be honest with yourself to determine if you can afford to buy a house in Drexel Hill, 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 talk strategy.

Take a look at your finances—the whole landscape. How do you feel about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A solid way to begin your Drexel Hill 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 get an idea of how much house you can afford to buy in Drexel Hill based on your desired maximum monthly mortgage payment and income. Will this number get you into the Drexel Hill home or neighborhood you've had your eye on? If not, consider buying a house in a surrounding area or boosting your down payment. If it will, then move on to your next step. Call Mr. Cooper!

It's the right time to prequalify for a house in Drexel Hill. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Drexel Hill, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. 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 crunching the numbers on how you'll afford to buy a home in Drexel Hill, factor in your time, too. Minutes and seconds are things you never get back, and looking for the perfect home in Drexel Hill can be time-consuming. Join forces with a real estate agent in Drexel Hill who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Drexel Hill real estate agent and potentially save thousands of dollars.* Try it—there's no strings attached. Get an idea of how much you might be able to save on real estate commissions and closing costs with Mr. Cooper’s Real Estate Rewards calculator.

Applying for a home loan is the final step in getting your finances ready for a home purchase. 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're pros when it comes to what it takes to buy a house and will work hard to find the right loan for you.

"Home" has never mattered more than it does right now. Call now and let us help you ready your finances to buy a house in Drexel Hill. The path to homeownership is right in front of you!

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