What to Know Before Buying a Home in South Portland, ME

Busy? Have us call you back. Call Me Back

More Information

Exploring South Portland, ME From North to South

Thinking about buying a home in South Portland? Congratulations! You selected a lively 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 serve 3.8 million customers across the country and are familiar with the ins-and-outs of the South Portland housing market.

Given all of Maine's growth, South Portland homes aren't always easy to find at a comfortable price. Continued cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the South Portland area, but so much change also means a strain on housing options, school capacities, and city roads. That said, South Portland and the surrounding areas still offer a variety of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream house! When buying a home in South Portland, consider the home's location in relation to your everyday activities. If possible, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around South Portland will also give you an idea of why homes in west South Portland are priced differently than homes in east South Portland, what the communities are like, and where to find South Portland's coolest attractions.

Are you financially prepared to buy a house in South Portland? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. It doesn't matter whether you want to buy a home in Maine or somewhere else entirely. We work with first-time homeowners and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in South Portland.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in South Portland. Next, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in South Portland will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. 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!

It's Go Time! Buy a House in South Portland, ME

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 feels more rewarding when you get to live in a place like South Portland. Contact Mr. Cooper as you get ready to buy a house in South Portland. We're here to help you along 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.*

Mr. Cooper Reviews from Real Customers in South Portland, ME

Read actual reviews from actual Mr. Cooper customers in South Portland, ME. Then call us to see how we can help you.

Simplify the home buying or selling process in South Portland with Mr. Cooper.

Work with Mr. Cooper and get the support you need to make the home buying or selling process smoother.