Money Wise Tips for Affording a Home in Manassas, VA
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. Be honest with yourself to determine if you can afford to buy a house in Manassas, 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 financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. A solid way to start your Manassas 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. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can get an idea of how much house you can afford to buy in Manassas based on income or your desired maximum monthly mortgage payment. Will this number get you into the Manassas home or neighborhood you've had your eye on? If not, consider increasing your down payment or looking in surrounding areas. If it will, then move on to your next step. Call Mr. Cooper!
It's the right time to prequalify for a house in Manassas. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's based on some financial information 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 Manassas, 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. Type in your likely purchase price and down payment. Follow that information with a few personal details and you're almost prequalified. The process is simple and your 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 Manassas. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Manassas. Partner with a real estate agent in Manassas who does the bulk of the work for you.
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! Work 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.
The house of your dreams is waiting for you and your loved ones. Get your finances ready to buy a home in Manassas and give us a call. Let's get you started on your path to homeownership!