Learn How to Better Afford a Home in Plano, TX

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Steps to Afford to Buy a Home in Plano, TX

Your home should be a retreat from the worries of the world, not a place where new worries begin. One of the best ways 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 Plano, or if you should hold off until your situation is different. Get started with the following steps and contact a Mr. Cooper Mortgage Professional to streamline the process.

Examine your finances. Look at the whole picture. What are your general thoughts about your current monthly expenses, credit history, and savings? A quick reality check goes a long way. The best way to begin your Plano 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 play with some real numbers. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in Plano based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Plano home you've been dreaming about? 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 Plano. 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you’re looking to buy a home in Plano, 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 clicks away from being 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 Plano, factor in your time, too. Minutes and seconds are things you never get back, and looking for the perfect home in Plano can be time-consuming. Partner with a real estate agent in Plano who takes care of the tedious work for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Plano real estate agent and potentially save thousands of dollars.* Give it a try. 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. You're almost at the finish line! Work with a home loan servicer like Mr. Cooper, 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! Call now and let us help you ready your finances to buy a house in Plano. Let's get you started on your path to homeownership!

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