The Process of Buying a Home in Marco Island, FL

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Get Familiar with the Lay of the Land in Marco Island, FL

Strongly considering a home purchase in Marco Island? Great idea! You selected a colorful 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 from coast to coast and have the inside scoop on Marco Island's housing scene.

Marco Island is growing by the day, which means Marco Island homes don't always come cheap. Continued economic growth and cultural expansion have helped to beckon entrepreneurs, retirees, and new graduates to the Marco Island area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Marco Island and its neighboring areas still offer a variety of homes in price and amenities. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When buying a home in Marco Island, consider how near or far away the home is from the places you visit most. 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. Traveling around Marco Island will also give you an idea of why homes in west Marco Island are priced differently than homes in east Marco Island, what the communities are like, and where to find Marco Island's coolest attractions.

You're ready to buy a house in Marco Island, 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 everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Florida or elsewhere. We work with experienced homeowners and first-time homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Marco Island.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Marco Island. After that, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in Marco Island will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, figure out what a realistic down payment would be for you. A down payment of at least 20% can help increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. 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, check your credit. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

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

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