Learn How to Better Afford a Home in Plainview, TX

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Steps to Afford to Buy a Home in Plainview, TX

You want your home to be a haven of happiness, not a financial burden. A good way to ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Plainview, and when it might be better to wait until your situation changes. Get started with the following steps and call a Mr. Cooper Mortgage Professional to talk strategy.

Evaluate every angle of your finances. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. The best way to begin your Plainview 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. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can calculate how much house you can afford in Plainview based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Plainview home you want? If it's not, think about looking in surrounding areas or increasing 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 Plainview. 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 a chance to learn about your mortgage options and work with your lender to find the right fit. Start with Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in Plainview, 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. Share a couple more 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 Plainview, don't forget to budget your time, too. Minutes and seconds are things you never get back, and looking for the perfect home in Plainview can be time-consuming. Turn to a real estate agent in Plainview who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Plainview real estate agent and potentially save thousands of dollars.* Give it a try. Get an idea of how much you might 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! 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 are home buying experts who will work their hardest to present you with the best loan options possible.

Your dream home, or as we like to say, "The One" is waiting for you! Get your finances in order to buy a house in Plainview. You can start on the path to homeownership today!

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