The Process of Buying a Home in Tampa, FL

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Get Familiar with the Lay of the Land in Tampa, FL

Thinking about buying a home in Tampa? Smart move! You selected a lively city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers nationwide and have the inside scoop on Tampa's housing scene.

Given all of Florida's growth, Tampa homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Tampa area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Tampa and its neighboring areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When buying a home in Tampa, 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 home's location will influence almost every aspect of your life. Discovering different parts of Tampa will help you see how the northern part differs from the southern part, where to find Tampa's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Tampa, 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 every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Tampa. 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 Tampa.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Tampa. Then, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Searching the web for Tampa 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.

Then, 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). Even so, 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. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, consider your credit profile. Credit history is an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

It's Go Time! Buy a House in Tampa, 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 Tampa. Contact Mr. Cooper as you get ready to buy a house in Tampa. 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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