Understanding the Covington, GA Housing Landscape
Strongly considering a home purchase in Covington? Awesome! You've chosen an energetic 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 are familiar with the ins-and-outs of the Covington housing market.
Covington is growing by the day, which means Covington homes don't always come cheap. Sustained support for local businesses and cultural growth have helped to attract retirees, new businesses, and young families to the Covington area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Covington and the surrounding areas still offer an array of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When looking to buy a house in Covington, consider how near or far away the home is from the places you visit most. 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 Covington will also help you get a feel for how homes in east Covington differ from west Covington, what the communities are like, and where to find Covington's coolest attractions.
Are you financially prepared to buy a house in Covington? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Georgia or elsewhere. We help 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 Covington.
First, calculate how much house you can afford. This will help you set a price range while house shopping in Covington. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Covington 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.
Then, consider how much you can contribute to a down payment. Placing a minimum of 20% down can boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, 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, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and who doesn't want more choices in life?
It's Go Time! Buy a House in Covington, 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 Covington. Contact Mr. Cooper as you look to buy a home in Covington. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
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