All About Buying a House in Edgewood, MD

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Understanding the Edgewood, MD Housing Landscape

Thinking about buying a home in Edgewood? Smart move! You picked a vibrant city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers from coast to coast and have the inside scoop on Edgewood's housing scene.

Given all of Maryland's growth, Edgewood homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to attract young families, new businesses, and retirees to the Edgewood area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Edgewood and the surrounding areas still offer a wide range of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When buying a home in Edgewood, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Edgewood will also give you an idea of why homes in west Edgewood are priced differently than homes in east Edgewood, what the neighborhoods are like, and where to find Edgewood's hottest attractions.

You're ready to buy a house in Edgewood, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in Maryland or somewhere else entirely. We support new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Edgewood.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Edgewood. After that, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Searching the web for Edgewood 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, figure out what a realistic down payment would be for you. A down payment of at least 20% can help improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. 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. 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 who doesn't want more choices in life?

It's Go Time! Buy a House in Edgewood, MD

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Edgewood, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Edgewood. We're here for you from start to finish 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.*

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