Learn How to Better Afford a Home in Eau Claire, WI

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Steps to Afford to Buy a Home in Eau Claire, WI

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. 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 Eau Claire. Walk through the following steps to get started 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 current monthly expenses, credit history, and savings? A quick reality check goes a long way. A good way to begin your Eau Claire 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 estimate about how much house you can afford in Eau Claire based on income or your desired maximum monthly mortgage payment. Will this price range get you into the Eau Claire home you've been dreaming about? If it's not, think about looking in surrounding areas or increasing your down payment. If it's a good number, then call Mr. Cooper. It's time to move on to the next step in the homeownership journey!

It's the right time to prequalify for a house in Eau Claire. 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. Start with Mr. Cooper’s online prequalification tool. Let us know where you’re looking to buy a home in Eau Claire, 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 purchase price and down payment. Share a couple more personal details and you're almost prequalified. The process is straightforward. Prequalification lasts 120 days.

When figuring out what it will take to afford to buy a home in Eau Claire, don't forget to budget your time, too. Your time is one resource that's non-refundable and non-renewable, and looking for the perfect home in Eau Claire can be time-consuming. Join forces with a real estate agent in Eau Claire who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Eau Claire real estate agent and potentially save thousands of dollars.* Give it a try. Estimate how much you may 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. You're almost at the finish line! Work with a home loan servicer like Mr. Cooper, 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. 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 in order to buy a house in Eau Claire. The path to homeownership is right in front of you!

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