Learn How to Better Afford a Home in Sevierville, TN

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Steps to Afford to Buy a Home in Sevierville, TN

Help make sure your home isn't a source of financial stress. A great way to make sure that happens is to prepare for your home purchase ahead of time. Be honest with yourself to determine if you can afford to buy a house in Sevierville, or if you should hold off until your situation is different. Walk through the following steps to get started and call a Mr. Cooper Mortgage Professional to discuss strategy.

Take a look at your finances—the whole landscape. Are you confident about your current monthly expenses, credit history, and savings? A quick reality check goes a long way. The best way to start your Sevierville 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. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in Sevierville based on income or your desired maximum monthly mortgage payment. Will this number get you into the Sevierville home or neighborhood you've had your eye on? If it's not, think about increasing your down payment or looking in surrounding areas. If it will, then take the next step in the homeownership journey with Mr. Cooper!

It's time to prequalify for a home in Sevierville. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's the result of some financial details you provide and a credit check. Prequalification is also an opportunity to learn more about your various mortgage options and determine which one is right for you. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Sevierville, the property type, how you're going to use the property, and if you currently have a real estate agent. Enter your expected down payment and purchase price. Follow that information with a few personal details and you're clicks away from being prequalified. The process is straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Sevierville, don't forget to budget your time, too. Minutes and seconds are things you never get back, and discovering your perfect Sevierville home can really eat up the hours. Turn to a real estate agent in Sevierville who does the bulk of the work for you. You can get connected with a top-performing real estate agent in Sevierville and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it! Estimate how much you may be able to 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. The finish line is right around the corner! 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 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! Get your finances ready to buy a home in Sevierville and give us a call. Let's get you started on your path to homeownership!

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