Money Wise Tips for Buying a Home in Redmond, WA
You want your home to be a haven of happiness, not a financial burden. One of the best ways to ensure that happens is to ready your finances beforehand. Know when you can buy a home in Redmond, and when it might be better to wait until your situation changes. Walk through the following steps to get started and reach out to a Mr. Cooper Mortgage Professional to talk strategy.
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 check-in with yourself can get you on the right path. A good way to begin your Redmond 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. Use Mr. Cooper's affordability calculator to see where your budget stands. You can calculate how much house you can buy in Redmond based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Redmond home you've been dreaming about? If not, think about looking in surrounding areas or increasing your down payment. If it will, then move on to your next step. Call Mr. Cooper!
You're ready to get pre-approved for a house in Redmond. Pre-approval 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. The pre-approval stage is also a great time to work with your lender to find the right mortgage options for you. Start with Mr. Cooper’s online pre-approval tool. Let us know where you’re looking to buy a home in Redmond, 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 down payment and purchase price. Share a couple more personal details and you're clicks away from being pre-approved. The process is simple and your pre-approval lasts 120 days.
Don't forget to budget your time when doing the math on how you can buy a house in Redmond. Your time is one resource that's non-refundable and non-renewable, and finding your perfect house can be time-consuming, especially in Redmond. Turn to a real estate agent in Redmond who does the legwork for you.
Applying for a home loan is the last step in preparing your finances 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 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 today. They are home buying experts who will work their hardest to present you with the best loan options possible.
Your dream home, or as we like to say, "The One" is waiting for you! Get your finances ready to buy a home in Redmond and give us a call. Let's get you started on your path to homeownership!