The Process of Buying a Home in Ocala, FL

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Exploring Ocala, FL From North to South

Strongly considering a home purchase in Ocala? Awesome! You picked a lively city with a great balance of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers across the country and know the Ocala housing market well.

Ocala'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 cultural expansion and economic growth have helped to beckon young families, new businesses, and retirees to the Ocala area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Ocala and its neighboring areas still offer a variety of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When buying a house in Ocala, double check that you're factoring in the home's distance from your daily 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. Traveling around Ocala will also give you an idea of why homes in west Ocala are priced differently than homes in east Ocala, what the communities are like, and where to find Ocala's coolest attractions.

Are you financially prepared to buy a house in Ocala? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 help 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 Ocala.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Ocala house hunt. Next, 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. While everyone's situation is different, an online search for Ocala averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Now, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

Make Your Move: Buy a Home in Ocala, FL

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Ocala. Contact Mr. Cooper as you prepare to buy a house in Ocala. We're here for you every step of the way 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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