The Process of Buying a Home in Oxford, AL

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Understanding the Oxford, AL Housing Landscape

Strongly considering a home purchase in Oxford? Awesome! You've chosen a lively 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 service 3.8 million customers from coast to coast and know the Oxford housing market well.

Given all of Alabama's growth, Oxford homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to entice retirees, new businesses, and young families to the Oxford area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Oxford and the surrounding areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When buying a home in Oxford, double check that you're factoring in the home's distance from your daily activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Oxford will also give you an idea of why homes in west Oxford are priced differently than homes in east Oxford, what the neighborhoods are like, and where to find Oxford's hottest attractions.

Are you financially prepared to buy a house in Oxford? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 serve new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Oxford.

First, calculate how much house you can afford. This will help determine the price range for your Oxford house hunt. Then, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Oxford 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, look at how much money you can put toward a down payment. Placing a minimum of 20% down can increase your chances of getting a favorable 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. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

It's Go Time! Buy a House in Oxford, 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 when you get to live in a stellar city like Oxford, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Oxford. 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.*

Oxford, AL Mr. Cooper Customer Reviews

Take it from these Mr. Cooper home buyers and sellers in Oxford, AL: We love helping homeowners. Call now to see how we can serve you.

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