What to Know Before Buying a Home in Colorado Springs, CO

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Get Familiar with the Lay of the Land in Colorado Springs, CO

Thinking about buying a home in Colorado Springs? Great idea! You picked a colorful city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Colorado Springs housing market.

Colorado Springs'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. Continued support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Colorado Springs area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Colorado Springs and the surrounding areas still offer an array of homes in price and amenities. You can find single-family homes, condos, townhomes, and (ideally) your perfect home! When looking to buy a house in Colorado Springs, consider how near or far away the home is from the places you visit most. 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. Discovering different parts of Colorado Springs will help you see how the northern part differs from the southern part, what the communities are like, and where to find Colorado Springs's coolest attractions.

Are you financially prepared to buy a house in Colorado Springs? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. 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. You could choose to buy a home in Colorado or elsewhere. We work with experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Colorado Springs.

First, calculate how much house you can afford. This will help determine the price range for your Colorado Springs house hunt. After that, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Searching the web for Colorado Springs averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can improve 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. Lenders place a high importance on credit history when looking at your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

Make Your Move: Buy a Home in Colorado Springs, CO

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Colorado Springs, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Colorado Springs. 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.*

Colorado Springs, CO Mr. Cooper Customer Reviews

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

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