Can You Afford to Buy a House in North Charleston, SC?

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Steps to Afford to Buy a Home in North Charleston, SC

Help make sure your home isn't a source of financial stress. One of the best ways to make sure that happens is to prepare for your home purchase ahead of time. Know when you can afford to buy a home in North Charleston, 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 discuss strategy.

Evaluate every angle of your finances. How do you feel about your savings, current debt, monthly expenses, and credit history? A quick reality check goes a long way. A good way to begin your North Charleston 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 play with some real numbers. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in North Charleston based on your desired maximum monthly mortgage payment and income. Will this number get you into the North Charleston home or neighborhood you've had your eye on? If not, consider increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!

It's the right time to prequalify for a house in North Charleston. 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 North Charleston, 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. 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. The process is simple and your 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 North Charleston. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in North Charleston. Join forces with a real estate agent in North Charleston who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in North Charleston and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. 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. The finish line is right around the corner! Work with a home loan servicer like Mr. Cooper, and you'll receive personalized support from the moment you dream of owning a home to the reality of holding the keys in your hand. 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.

The house of your dreams is waiting for you and your loved ones. Call now and let us help you ready your finances to buy a house in North Charleston. The path to homeownership is right in front of you!

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