What to Know Before Buying a Home in Atlanta, GA

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Understanding the Atlanta, GA Housing Landscape

Strongly considering a home purchase in Atlanta? Awesome! You selected a vibrant city with a great balance of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers nationwide and have the inside scoop on Atlanta's housing scene.

Atlanta is growing by the day, which means Atlanta homes don't always come cheap. Sustained support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Atlanta area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Atlanta and its nearby areas still offer a wide range of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream house! When looking to buy a house in Atlanta, double check that you're factoring in the home's distance from your daily activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Exploring Atlanta will also help you get a feel for how homes in east Atlanta differ from west Atlanta, what the communities are like, and where to find Atlanta's coolest attractions.

You're ready to buy a house in Atlanta, but is your bank account? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Atlanta. We work with 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 Atlanta.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Atlanta. Then, 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 Atlanta will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can 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. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, consider your credit profile. Credit history is one of the main factors that lenders look at when considering 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 Atlanta, GA

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Atlanta. Contact Mr. Cooper as you prepare to buy a house in Atlanta. We're here for you every step of 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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