The Process of Buying a Home in Enterprise, AL

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Understanding the Enterprise, AL Housing Landscape

Ready to lay down some roots and buy a house in Enterprise? Smart move! You've chosen a vibrant city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers across the country and have the inside scoop on Enterprise's housing scene.

Enterprise'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. Ongoing economic growth and cultural expansion have helped to attract retirees, new businesses, and young families to the Enterprise area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Enterprise and its nearby areas still offer a variety of home styles and prices. You can find single-family homes, condos, townhomes, and (ideally) your perfect home! When buying a house in Enterprise, consider the home's location in relation to your everyday activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Exploring Enterprise will also help you get a feel for how homes in east Enterprise differ from west Enterprise, what the communities are like, and where to find Enterprise's coolest attractions.

Are your finances in the right place to buy a home in Enterprise? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive and work to make the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in Alabama or somewhere else entirely. We help new and experienced homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Enterprise.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Enterprise house hunt. Then, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Enterprise averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, the required down payment will depend on the type of loan you get. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

It's Go Time! Buy a House in Enterprise, 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 Enterprise, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Enterprise. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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