Can You Afford to Buy a House in Laramie, WY?

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Your Step-by-Step Guide to Afford to Buy a House in Laramie, WY

Help make sure your home isn't a source of financial stress. One of the best ways to make that happen is to be financially prepared for your home purchase before you set foot in an open house. Be honest with yourself to determine if you can afford to buy a house in Laramie, or if you should hold off until your situation is different. Start the process with the following steps and call a Mr. Cooper Mortgage Professional to discuss strategy.

Take a look at your finances—the whole landscape. Are you confident about your financial situation, credit history, savings, and current monthly expenses? A quick reality check goes a long way. The best way to begin your Laramie 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 some real numbers down. Use Mr. Cooper's affordability calculator to see where your budget stands. You can estimate about how much house you can afford in Laramie based on your desired maximum monthly mortgage payment and income. Will this price range get you into the Laramie home you've been dreaming about? If not, consider 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 Laramie. 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. 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 Laramie, 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. Follow that information with a few 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 Laramie, factor in your time, too. Time is non-renewable and non-refundable, and finding your perfect house can be time-consuming, especially in Laramie. Partner with a real estate agent in Laramie who does the legwork for you. With Mr. Cooper® Real Estate Rewards, you can get personal assistance from a high-performing Laramie real estate agent and potentially save thousands of dollars.* Try it! See just how much you could save on closing costs and real estate commissions with Mr. Cooper’s Real Estate Rewards calculator.

Applying for a home loan is the final step in getting your finances ready for a home purchase. The finish line is right around the corner! Work with a home loan servicer like Mr. Cooper, 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 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! Call now and let us help you ready your finances to buy a house in Laramie. You can start on the path to homeownership today!

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