How to Afford to Buy a House in Purcellville, VA

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Steps to Afford to Buy a Home in Purcellville, VA

You want your home to be a haven of happiness, not a financial burden. A great way to make sure that happens is to prepare for your home purchase ahead of time. Know when it might be better to wait until your situation improves and when you're in a financially strong enough position to buy a home in Purcellville. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to discuss strategy.

Examine your finances. Look at the whole picture. How do you feel 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 Purcellville 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 "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 Purcellville based on income or your desired maximum monthly mortgage payment. Does this number fit your vision? Is it enough to get you into the Purcellville home you want? If it's not, think about looking in surrounding areas or increasing your down payment. If it will, then take the next step in the homeownership journey with Mr. Cooper!

It's the right time to prequalify for a house in Purcellville. Prequalification is a more formal estimate of how much of a home loan you could get approved for. It's calculated based on a credit check and a couple of financial details you provide. The prequalification stage is also a great time to work with your lender to find the right mortgage options for you. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Purcellville, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. Enter your expected down payment and purchase price. Provide a few more personal details and you’re on your way to getting 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 Purcellville, factor in your time, too. Your time is one resource that's non-refundable and non-renewable, and discovering your perfect Purcellville home can really eat up the hours. Join forces with a real estate agent in Purcellville who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Purcellville and potentially save thousands.* Try it! 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 last step in preparing your finances for a home purchase. The finish line is right around the corner! 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 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! Get your finances in order to buy a house in Purcellville. Let's get you started on your path to homeownership!

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