How to Afford to Buy a House in Dallas, TX

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Your Step-by-Step Guide to Afford to Buy a House in Dallas, TX

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. Be honest with yourself to determine if you can afford to buy a house in Dallas, or if you should hold off until your situation is different. Get started with the following steps and call 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 check-in with yourself can get you on the right path. A solid way to start your Dallas 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 pencil to paper," as they say. Use Mr. Cooper's affordability calculator to see where your budget stands. You can calculate how much house you can afford in Dallas based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Dallas home you want? If it's not, think about 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 Dallas. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you want to buy a house in Dallas, the property type, how you're going to use the property, and if you currently have a real estate agent. Type in your likely 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 straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Dallas, don't forget to budget your time, too. Time is non-renewable and non-refundable, and discovering your perfect Dallas home can really eat up the hours. Join forces with a real estate agent in Dallas who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Dallas and potentially save thousands.* 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. The finish line is right around the corner! Partner 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.

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 Dallas. You can start on the path to homeownership today!

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