Learn How to Better Afford a Home in Philadelphia, PA

Busy? Have us call you back. Call Me Back

More Information

Money Wise Tips for Affording a Home in Philadelphia, PA

You want your home to be a haven of happiness, not a financial burden. 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 Philadelphia. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to streamline the process.

Examine your finances. Look at the whole picture. 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 solid way to begin your Philadelphia 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 some real numbers down. 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 Philadelphia based on income or your desired maximum monthly mortgage payment. Will this number get you into the Philadelphia home or neighborhood you've had your eye on? If not, consider increasing your down payment or looking in surrounding areas. If it's a good number, then call Mr. Cooper. It's time to move on to the next step in the homeownership journey!

It's the right time to prequalify for a house in Philadelphia. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Philadelphia, the property type, how you're going to use the property, and if you currently have a real estate agent. Type in your likely purchase price and down payment. Follow that information with a few personal details and you're almost 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 Philadelphia, 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 Philadelphia can be time-consuming. Turn to a real estate agent in Philadelphia who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Philadelphia and potentially save thousands.* 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.

Applying for a home loan is the last step in preparing your finances for a home purchase. 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.

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 Philadelphia. The path to homeownership is right in front of you!

Philadelphia, PA Mr. Cooper Customer Reviews

Read actual reviews from actual Mr. Cooper customers in Philadelphia, PA. Then call us to see how we can help you.

Simplify the home buying or selling process in Philadelphia with Mr. Cooper.

Work with Mr. Cooper and get the support you need to make the home buying or selling process smoother.