The Process of Buying a Home in St. Petersburg, FL

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Understanding the St. Petersburg, FL Housing Landscape

Ready to lay down some roots and buy a house in St. Petersburg? Awesome! You selected a colorful city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers from coast to coast and know the St. Petersburg housing market well.

St. Petersburg is growing by the day, which means St. Petersburg homes don't always come cheap. Ongoing economic growth and cultural expansion have helped to attract retirees, new businesses, and young families to the St. Petersburg area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, St. Petersburg and its neighboring areas still offer a variety of home types and prices. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When buying a house in St. Petersburg, 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. Petersburg will also help you get a feel for how homes in east St. Petersburg differ from west St. Petersburg, where to find St. Petersburg's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in St. Petersburg? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You could choose to buy a home in Florida or elsewhere. We work with first-time homeowners and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in St. Petersburg.

First, calculate how much house you can afford. This will help you set a price range while house shopping in St. Petersburg. After that, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Searching the web for St. Petersburg 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.

Now, look at how much money you can put toward a down payment. A down payment of at least 20% can help boost 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. 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, 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 who doesn't want more choices in life?

Make Your Move: Buy a Home in St. Petersburg, 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 St. Petersburg, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in St. Petersburg. We're here to help you along 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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