Steps to Afford to Buy a Home in Pharr, TX
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 Pharr, and when it might be better to wait until your situation changes. Walk through the following steps to get started and contact a Mr. Cooper Mortgage Professional to streamline the process.
Take a look at your finances—the whole landscape. What are your general thoughts about your financial situation, credit history, savings, and current monthly expenses? A little "gut check" can go a long way. The best way to begin your Pharr 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. Use Mr. Cooper's affordability calculator to see where your budget stands. You can calculate how much house you can afford in Pharr based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Pharr home you've been dreaming about? If not, consider looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!
You're ready to prequalify for a house in Pharr. 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. Get started using Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Pharr, 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 down payment and purchase price. Provide a few more personal details and you're almost 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 Pharr. Minutes and seconds are things you never get back, and discovering your perfect Pharr home can really eat up the hours. Partner with a real estate agent in Pharr who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Pharr and potentially save thousands.* Try it! 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 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 today. 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 Pharr. Let's get you started on your path to homeownership!
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.