Can You Afford to Buy a House in Edinburg, TX?

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

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. Be honest with yourself to determine if you can afford to buy a house in Edinburg, or if you should hold off until your situation is different. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to talk strategy.

Examine your finances. Look at the whole picture. Are you confident about your current monthly expenses, credit history, and savings? A little "gut check" can go a long way. A good way to start your Edinburg 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 estimate about how much house you can afford in Edinburg based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Edinburg home you've been dreaming about? If not, think about buying a house in a surrounding area or boosting your down payment. If it's a good number, then call Mr. Cooper. It's time to move on to the next step in the homeownership journey!

It's the right time to prequalify for a house in Edinburg. 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. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Get started using Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Edinburg, 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. Provide a few more personal details and you're almost prequalified. It's a simple process and prequalification lasts 120 days.

When crunching the numbers on how you'll afford to buy a home in Edinburg, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and looking for the perfect home in Edinburg can be time-consuming. Join forces with a real estate agent in Edinburg who takes care of the tedious work for you. You can get connected with a top-performing real estate agent in Edinburg and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Try it—there's no strings attached. Estimate how much you may be able to save on real estate commissions and closing costs with Mr. Cooper’s Real Estate Rewards calculator.

The last step in preparing your finances to buy a house in Edinburg is to apply for a home loan. Can you see the finish line? Let a home loan servicer like Mr. Cooper guide you in the process and you'll gain the distinct advantage of one-on-one support all along the way—from loan to closing. 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.

"Home" has never mattered more than it does right now. Call now and let us help you ready your finances to buy a house in Edinburg. You can start on the path to homeownership today!

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