What to Know Before Buying a Home in Marion, IA

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Understanding the Marion, IA Housing Landscape

Thinking about buying a home in Marion? Smart move! You've chosen a colorful city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers from coast to coast and know the Marion housing market well.

Marion'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 attract retirees, new businesses, and young families to the Marion area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Marion and its nearby areas still offer an array of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When buying a home in Marion, consider the home's location in relation to your everyday activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Marion will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Marion's hottest attractions.

Are you financially prepared to buy a house in Marion? 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 every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Iowa or elsewhere. We serve new and experienced homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Marion.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Marion. Next, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Marion will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, look at how much money you can put toward a down payment. A down payment of at least 20% can help increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, 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 will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. 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 options are always a good thing!

Move Up and Out: Buying Your Dream House in Marion, IA

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 Marion. Contact Mr. Cooper as you look to buy a home in Marion. 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.*

Mr. Cooper Customer Reviews for Marion, IA

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