Your Step-by-Step Guide to Afford to Buy a House in South Kingstown, RI
Help make sure your home isn't a source of financial stress. A great way to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Know when you can afford to buy a home in South Kingstown, and when it might be better to wait until your situation changes. Start the process with the following steps and reach out to a Mr. Cooper Mortgage Professional to discuss strategy.
Evaluate every angle of your finances. What are your general thoughts about your financial situation, credit history, savings, and current monthly expenses? A quick check-in with yourself can get you on the right path. A solid way to begin your South Kingstown 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 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 get an idea of how much house you can afford to buy in South Kingstown based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the South Kingstown home you want? If not, think about buying a house in a surrounding area or boosting 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 South Kingstown. 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 want to buy a house in South Kingstown, 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. Follow that information with a few 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 South Kingstown. Time is non-renewable and non-refundable, and discovering your perfect South Kingstown home can really eat up the hours. Join forces with a real estate agent in South Kingstown who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing South Kingstown real estate agent and potentially save thousands of dollars.* Try it—there's no strings attached. See just how much you could save on real estate commissions and closing costs 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? 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 today. They know the details of buying a home, inside and out, and will work to find the loan that fits you best.
Your dream home, or as we like to say, "The One" is waiting for you! Call now and let us help you ready your finances to buy a house in South Kingstown. The path to homeownership is right in front of you!
- 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.