What to Know Before Buying a Home in Idaho Falls, ID

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Understanding the Idaho Falls, ID Housing Landscape

Strongly considering a home purchase in Idaho Falls? Smart move! You selected a vibrant 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 from coast to coast and have the inside scoop on Idaho Falls's housing scene.

Given all of Idaho's growth, Idaho Falls homes aren't always easy to find at a comfortable price. Sustained support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Idaho Falls area, but so much change also means more traffic, more competition, and a need for more schools. That said, Idaho Falls and its neighboring areas still offer a wide range of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream house! When buying a home in Idaho Falls, 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. Your home's location will influence almost every aspect of your life. Discovering different parts of Idaho Falls will help you see how the northern part differs from the southern part, where to find Idaho Falls's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Idaho Falls? 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 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 Idaho Falls. We support new and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Idaho Falls.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Idaho Falls. Then, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Idaho Falls averages will usually give you some solid estimates. 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. Putting at least 20% down will increase 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. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

Move Up and Out: Buying Your Dream House in Idaho Falls, ID

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 Idaho Falls. Contact Mr. Cooper as you look to buy a home in Idaho Falls. 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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Buying or selling a house in Idaho Falls? Mr. Cooper makes it easier.

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