What to Know Before Buying a Home in Decatur, AL

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Exploring Decatur, AL From North to South

Thinking about buying a home in Decatur? Smart move! You've chosen a lively city with a great balance of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers nationwide and are familiar with the ins-and-outs of the Decatur housing market.

Decatur's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Sustained cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Decatur area, but so much change also means more traffic, more competition, and a need for more schools. That said, Decatur and its neighboring areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream home! When buying a home in Decatur, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Discovering different parts of Decatur will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Decatur's hottest attractions.

Are your finances in the right place to buy a home in Decatur? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Decatur. We help first-time homeowners and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Decatur.

First, estimate how much house you can afford. This will help determine the price range for your Decatur house hunt. Next, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Decatur will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, figure out what a realistic down payment would be for you. Putting at least 20% down will improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, consider your credit profile. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

Make Your Move: Buy a Home in Decatur, AL

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Decatur. Contact Mr. Cooper as you look to buy a home in Decatur. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

Mr. Cooper Reviews from Real Customers in Decatur, AL

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