What to Know Before Buying a Home in Phenix City, AL

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Exploring Phenix City, AL From North to South

Strongly considering a home purchase in Phenix City? Great idea! You've chosen a vibrant city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers across the country and know the Phenix City housing market well.

Given all of Alabama's growth, Phenix City homes aren't always easy to find at a comfortable price. Continued support for local businesses and cultural growth have helped to beckon entrepreneurs, retirees, and new graduates to the Phenix City area, but so much change also means more traffic, more competition, and a need for more schools. That said, Phenix City 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 dream home! When looking to buy a house in Phenix City, consider the home's location in relation to your everyday 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. Exploring Phenix City will also help you get a feel for how homes in east Phenix City differ from west Phenix City, where to find Phenix City's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Phenix City, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and work to make the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Phenix City. We serve 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 Phenix City.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Phenix City. After that, add up the 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 Phenix City 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.

Now, look at how much money you can put toward a down payment. A down payment of at least 20% can help improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

It's Go Time! Buy a House in Phenix City, 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 Phenix City. Contact Mr. Cooper as you prepare to buy a house in Phenix City. 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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