Can You Afford to Buy a House in The Colony, TX?

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Money Wise Tips for Affording a Home in The Colony, TX

Your home should be a retreat from the worries of the world, not a place where new worries begin. A great way 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 The Colony, 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 talk strategy.

Examine your finances. Look at the whole picture. Are you confident about your savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. A good way to begin your The Colony home buying journey is with confidence, a strong credit history, enough savings for a down payment, and a good handle on your current expenses.

Now, let's "put pencil to paper," as they say. Plug in some numbers to Mr. Cooper's affordability calculator and see where you (and your budget) stand. You can estimate about how much house you can afford in The Colony based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the The Colony 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!

You're ready to prequalify for a house in The Colony. 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. Get started using Mr. Cooper’s online prequalification tool. Let us know where you want to buy a house in The Colony, 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 almost prequalified. It's a simple process and 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 The Colony. Time is non-renewable and non-refundable, and looking for the perfect home in The Colony can be time-consuming. Turn to a real estate agent in The Colony who does the legwork for you. You can get connected with a top-performing real estate agent in The Colony and potentially save thousands with Mr. Cooper® Real Estate Rewards.* Give it a try. Get an idea of how much you might 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 final step in getting your finances ready for a home purchase. 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 The Colony. Let's get you started on your path to homeownership!

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