What to Know Before Buying a Home in Opelika, AL

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Get Familiar with the Lay of the Land in Opelika, AL

Ready to lay down some roots and buy a house in Opelika? Awesome! You selected a vibrant city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers nationwide and know the Opelika housing market well.

Opelika is growing by the day, which means Opelika homes don't always come cheap. Sustained economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the Opelika area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Opelika and the surrounding areas still offer a wide range of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your perfect home! When looking to buy a house in Opelika, consider how near or far away the home is from the places you visit most. If possible, 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 Opelika will also help you get a feel for how homes in east Opelika differ from west Opelika, what the neighborhoods are like, and where to find Opelika's hottest attractions.

You're ready to buy a house in Opelika, but is your bank account? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 help first-time homeowners and experienced 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 Opelika.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Opelika. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Opelika averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. 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. Credit history is an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and who doesn't want more choices in life?

It's Go Time! Buy a House in Opelika, AL

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But moving feels more rewarding when you get to live in a place like Opelika. Contact Mr. Cooper as you get ready to buy a house in Opelika. We're here for you every step of the way 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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