What to Know Before Buying a Home in St. Cloud, FL

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Get Familiar with the Lay of the Land in St. Cloud, FL

Thinking about buying a home in St. Cloud? Congratulations! You've chosen a lively city with a great balance of parks, businesses, and educational opportunities, 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 have the inside scoop on St. Cloud's housing scene.

St. Cloud'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. Sustained cultural expansion and economic growth have helped to beckon young families, new businesses, and retirees to the St. Cloud area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, St. Cloud and its neighboring areas still offer a variety of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When looking to buy a house in St. Cloud, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Exploring St. Cloud will also help you get a feel for how homes in east St. Cloud differ from west St. Cloud, what the communities are like, and where to find St. Cloud's coolest attractions.

You're ready to buy a house in St. Cloud, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. 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 St. Cloud. We work with new and experienced homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in St. Cloud.

Before anything else, calculate how much house you can afford. This will help determine the price range for your St. Cloud house hunt. Next, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Searching the web for St. Cloud 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, look at how much money you can put toward a down payment. Putting at least 20% down will increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

Make Your Move: Buy a Home in St. Cloud, 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 St. Cloud. Contact Mr. Cooper as you look to buy a home in St. Cloud. 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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