Learn How to Better Afford a Home in Florence, SC

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Your Step-by-Step Guide to Afford to Buy a House in Florence, SC

Help make sure your home isn't a source of financial stress. A great way to ensure that happens is to ready your finances beforehand. 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 Florence. Get started with the following steps and call a Mr. Cooper Mortgage Professional to talk strategy.

Take a look at your finances—the whole landscape. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A little "gut check" can go a long way. A solid way to start your Florence 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 estimate about how much house you can afford in Florence based on income or your desired maximum monthly mortgage payment. Will this number get you into the Florence home or neighborhood you've had your eye on? If not, think about 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 time to prequalify for a home in Florence. 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’re looking to buy a home in Florence, the type of property you’d like to buy, how you plan on using the property, and if you’re currently working with a real estate agent. 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.

Don't forget to budget your time when doing the math on how you can afford to buy a house in Florence. Minutes and seconds are things you never get back, and finding your perfect house can be time-consuming, especially in Florence. Turn to a real estate agent in Florence who does the legwork for you. You can get connected with a top-performing real estate agent in Florence and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. See just how much you could save on closing costs and real estate commissions 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! 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 Florence. You can start on the path to homeownership today!

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