All About Buying a House in Dothan, AL

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Understanding the Dothan, AL Housing Landscape

Ready to lay down some roots and buy a house in Dothan? Congratulations! You've chosen an energetic city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers from coast to coast and have the inside scoop on Dothan's housing scene.

Dothan is growing by the day, which means Dothan homes don't always come cheap. Continued economic growth and cultural expansion have helped to beckon entrepreneurs, retirees, and new graduates to the Dothan area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Dothan and its neighboring areas still offer a wide range of homes in price and amenities. You can find single-family homes, condos, townhomes, and (ideally) your perfect home! When looking to buy a house in Dothan, consider how near or far away the home is from the places you visit most. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Dothan will also help you get a feel for how homes in east Dothan differ from west Dothan, where to find Dothan's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Dothan, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Alabama or somewhere else entirely. We support experienced homeowners and first-time homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Dothan.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Dothan house hunt. After that, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in Dothan will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, look at how much money you can put toward a down payment. Placing a minimum of 20% down can boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, consider your credit profile. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

Make Your Move: Buy a Home in Dothan, AL

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Dothan, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Dothan. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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