Money Wise Tips for Buying a Home in Spokane, WA
Help make sure your home isn't a source of financial stress. One of the best ways to make sure that happens is to prepare for your home purchase ahead of time. Be honest with yourself to determine if you can buy a house in Spokane, or if you should hold off until your situation is different. Walk through the following steps to get started and call a Mr. Cooper Mortgage Professional to talk strategy.
Take a look at your finances—the whole landscape. 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 good way to start your Spokane 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 some real numbers down. See where your budget stands with Mr. Cooper's affordability calculator. How's it looking? You can estimate about how much house you can buy in Spokane based on your desired maximum monthly mortgage payment and income. Does this number fit your vision? Is it enough to get you into the Spokane home you want? 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!
It's the right time to get pre-approved for a house in Spokane. Pre-approval 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. Pre-approval is also an opportunity to learn more about your various mortgage options and determine which one is right for you. Start with Mr. Cooper’s online pre-approval tool. Let us know where you'd like to buy a home in Spokane, the property type, how you anticipate using the property, and whether you're currently working with a real estate professional. Enter your expected purchase price and down payment. Follow that information with a few personal details and you're clicks away from being pre-approved. It's a simple process and pre-approval lasts 120 days.
When crunching the numbers on how you'll buy a home in Spokane, factor in your time, too. Time is non-renewable and non-refundable, and discovering your perfect Spokane home can really eat up the hours. Turn to a real estate agent in Spokane 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. You're almost at the finish line! Partner with a home loan servicer like Mr. Cooper, and you'll receive one-on-one support throughout the home loan, purchase, and closing process. 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.
"Home" has never mattered more than it does right now. Get your finances ready to buy a home in Spokane and give us a call. Let's get you started on your path to homeownership!