What to Know Before Buying a Home in Searcy, AR

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Get Familiar with the Lay of the Land in Searcy, AR

Strongly considering a home purchase in Searcy? Congratulations! You selected an energetic city with a great balance of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers across the country and know the Searcy housing market well.

Searcy is growing by the day, which means Searcy homes don't always come cheap. Continued economic growth and cultural expansion have helped to entice entrepreneurs, retirees, and new graduates to the Searcy area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Searcy and the surrounding areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When looking to buy a house in Searcy, 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. Traveling around Searcy will also give you an idea of why homes in west Searcy are priced differently than homes in east Searcy, what the communities are like, and where to find Searcy's coolest attractions.

Are your finances in the right place to buy a home in Searcy? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 Arkansas or somewhere else entirely. 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 Searcy.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Searcy. Next, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Searcy 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.

Next, look at how much money you can put toward a down payment. Putting at least 20% down will increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. 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, check your credit. 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 who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Searcy, AR

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 Searcy, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Searcy. 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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