Learn How to Better Afford a Home in Edmonds, WA

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Your Step-by-Step Guide to Afford to Buy a House in Edmonds, WA

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 ensure that happens is to ready your finances beforehand. Know when you can afford to buy a home in Edmonds, and when it might be better to wait until your situation changes. 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 savings, current debt, monthly expenses, and credit history? A little "gut check" can go a long way. The best way to begin your Edmonds 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. 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 Edmonds based on your desired maximum monthly mortgage payment and income. Will this number get you into the Edmonds home or neighborhood you've had your eye on? If not, consider looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!

It's the right time to prequalify for a house in Edmonds. 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. Mr. Cooper’s online prequalification tool makes it easy. Let us know where you'd like to buy a home in Edmonds, the property type, how you anticipate using the property, and whether or not you're currently working with a real estate professional. Type in your likely purchase price and down payment. Provide a few 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 Edmonds. Minutes and seconds are things you never get back, and discovering your perfect Edmonds home can really eat up the hours. Turn to a real estate agent in Edmonds who does the bulk of the work for you. With Mr. Cooper® Real Estate Rewards, you can get connected with a top-performing real estate agent in Edmonds and potentially save thousands.* Try it! 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! Let a home loan servicer like Mr. Cooper guide you in the process 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're pros when it comes to what it takes to buy a house and will work hard to find the right loan for you.

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 Edmonds. Let's get you started on your path to homeownership!

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