Money Wise Tips for Affording a Home in Pawtucket, RI
Help make sure your home isn't a source of financial stress. One of the best ways to ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Pawtucket, and when it might be better to wait until your situation changes. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to talk strategy.
Take a look at your finances—the whole landscape. What are your general thoughts about your current monthly expenses, credit history, and savings? A quick reality check goes a long way. A good way to start your Pawtucket home buying journey is with adequate savings for a down payment, a strong credit history, and a good grasp on your everyday expenses.
Now, let's "put pencil to paper," as they say. 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 Pawtucket based on your desired maximum monthly mortgage payment and income. Will this number get you into the Pawtucket home or neighborhood you've had your eye on? If not, think about looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!
It's time to prequalify for a home in Pawtucket. 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. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you want to buy a house in Pawtucket, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected purchase price and down payment. Provide a few more personal details and you’re on your way to getting prequalified. It's a simple process and prequalification lasts 120 days.
Don't forget to budget your time when doing the math on how you can afford to buy a house in Pawtucket. Your time is one resource that's non-refundable and non-renewable, and finding your perfect house can be time-consuming, especially in Pawtucket. Partner with a real estate agent in Pawtucket who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Pawtucket and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it! See just how much you could save on real estate commissions and closing costs with Mr. Cooper’s Real Estate Rewards calculator.
The last step in preparing your finances to buy a house in Pawtucket is to apply for a home loan. 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.
"Home" has never mattered more than it does right now. Get your finances in order to buy a house in Pawtucket. You can start on the path to homeownership today!
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.