The Process of Buying a Home in Ames, IA

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Get Familiar with the Lay of the Land in Ames, IA

Thinking about buying a home in Ames? Awesome! You picked a lively 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 have the inside scoop on Ames's housing scene.

Given all of Iowa's growth, Ames homes aren't always easy to find at a comfortable price. Continued economic growth and cultural expansion have helped to entice young families, new businesses, and retirees to the Ames area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Ames and its neighboring areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your perfect home! When buying a house in Ames, consider how near or far away the home is from the places you visit most. 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 Ames will also give you an idea of why homes in west Ames are priced differently than homes in east Ames, what the neighborhoods are like, and where to find Ames's hottest attractions.

You're ready to buy a house in Ames, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 Ames. We help 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 Ames.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Ames house hunt. After that, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. Searching the web for Ames 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.

Next, look at how much money you can put toward a down payment. Placing a minimum of 20% down can boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

It's Go Time! Buy a House in Ames, IA

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Ames. Contact Mr. Cooper as you prepare to buy a house in Ames. 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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