Money Wise Tips for Affording a Home in Glenolden, PA
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. Know when you can afford to buy a home in Glenolden, and when it might be better to wait until your situation changes. Walk through the following steps to get started and call a Mr. Cooper Mortgage Professional to streamline the process.
Evaluate every angle of your finances. What are your general thoughts about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A solid way to begin your Glenolden 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. 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 Glenolden based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Glenolden home you want? If it's not, think about looking in surrounding areas or increasing your down payment. If it will, then take the next step in the homeownership journey with Mr. Cooper!
You're ready to prequalify for a house in Glenolden. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's the result of some financial details 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Glenolden, 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 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 Glenolden, factor in your time, too. Time is non-renewable and non-refundable, and looking for the perfect home in Glenolden can be time-consuming. Turn to a real estate agent in Glenolden who does the bulk of the work for you.
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 one-on-one support throughout the home loan, purchase, and closing process. Call Mr. Cooper Mortgage Professionals. 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.
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 Glenolden. You can start on the path to homeownership today!