What to Know Before Buying a Home in Annapolis, MD

Busy? Have us call you back. Call Me Back

More Information

Exploring Annapolis, MD From North to South

Ready to lay down some roots and buy a house in Annapolis? Smart move! You picked a vibrant city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers across the country and know the Annapolis housing market well.

Annapolis is growing by the day, which means Annapolis homes don't always come cheap. Ongoing economic growth and cultural expansion have helped to beckon entrepreneurs, retirees, and new graduates to the Annapolis area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Annapolis and its nearby areas still offer an array of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When buying a house in Annapolis, consider the home's location in relation to your everyday activities. If you can, 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. Exploring Annapolis will also help you get a feel for how homes in east Annapolis differ from west Annapolis, what the neighborhoods are like, and where to find Annapolis's hottest attractions.

You're ready to buy a house in Annapolis, but is your bank account? 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 every stage of the journey more enjoyable and less worrisome. It doesn't matter whether you want to buy a home in Maryland or somewhere else entirely. We help experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Annapolis.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Annapolis. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Annapolis averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, look at how much money you can put toward a down payment. Putting at least 20% down will improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. 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 who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Annapolis, MD

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 Annapolis. Contact Mr. Cooper as you prepare to buy a house in Annapolis. 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.*

Annapolis, MD Mr. Cooper Customer Reviews

Read real stories from real Mr. Cooper home buyers and sellers in Annapolis, MD. Then contact us to see what we can do for you.

Buying or selling a house in Annapolis? Mr. Cooper makes it easier.

Put Mr. Cooper in your corner for a better home buying or selling experience.