The Process of Buying a Home in Meridian, ID

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Understanding the Meridian, ID Housing Landscape

Thinking about buying a home in Meridian? Great idea! You've chosen a vibrant city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers across the country and are familiar with the ins-and-outs of the Meridian housing market.

Meridian's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Sustained cultural expansion and economic growth have helped to entice retirees, new businesses, and young families to the Meridian area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Meridian and the surrounding areas still offer a variety of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When buying a house in Meridian, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Meridian will also give you an idea of why homes in west Meridian are priced differently than homes in east Meridian, what the communities are like, and where to find Meridian's coolest attractions.

Are you financially prepared to buy a house in Meridian? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Idaho or elsewhere. We work with first-time homeowners and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Meridian.

First, calculate how much house you can afford. This will help determine the price range for your Meridian house hunt. Next, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Searching the web for Meridian 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. Placing a minimum of 20% down can boost your chances of getting a favorable 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. 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. 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!

It's Go Time! Buy a House in Meridian, ID

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Meridian. Contact Mr. Cooper as you get ready to buy a house in Meridian. We're here to help you along the way 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.*

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