The Process of Buying a Home in Lake Magdalene, FL

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Get Familiar with the Lay of the Land in Lake Magdalene, FL

Thinking about buying a home in Lake Magdalene? Smart move! You picked a vibrant city with a great balance of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Lake Magdalene housing market.

Lake Magdalene is growing by the day, which means Lake Magdalene homes don't always come cheap. Continued support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Lake Magdalene area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Lake Magdalene and the surrounding areas still offer an array of home styles and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream home! When looking to buy a house in Lake Magdalene, consider the home's location in relation to your everyday activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Lake Magdalene will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Lake Magdalene's hottest attractions.

Are you financially prepared to buy a house in Lake Magdalene? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Florida or elsewhere. We work with new 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 Lake Magdalene.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Lake Magdalene. Then, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Lake Magdalene will usually point you in the right direction. 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 increase your chances of getting a great 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 helps you know how much you might be eligible to borrow from a lender. Also, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

Make Your Move: Buy a Home in Lake Magdalene, 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 Lake Magdalene. Contact Mr. Cooper as you look to buy a home in Lake Magdalene. We're here for you every step of 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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