What to Know Before Buying a Home in Gainesville, FL

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Understanding the Gainesville, FL Housing Landscape

Ready to lay down some roots and buy a house in Gainesville? Awesome! You selected a vibrant city with an ideal amount 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 Gainesville housing market well.

Gainesville'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. Ongoing economic growth and cultural expansion have helped to entice retirees, new businesses, and young families to the Gainesville area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Gainesville and its nearby areas still offer a variety of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your perfect home! When buying a house in Gainesville, 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. Discovering different parts of Gainesville will help you see how the northern part differs from the southern part, where to find Gainesville's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Gainesville, 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 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 don't even have to stick with your decision to buy a house in Gainesville. We help first-time homeowners and experienced homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Gainesville.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Gainesville. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. Searching the web for Gainesville averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, consider how much you can contribute to a down payment. Putting at least 20% down will boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. Here's where it can help to get prequalified for a mortgage. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. 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!

Move Up and Out: Buying Your Dream House in Gainesville, FL

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Gainesville. Contact Mr. Cooper as you get ready to buy a house in Gainesville. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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