What to Know Before Buying a Home in Temple Hills, MD

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Understanding the Temple Hills, MD Housing Landscape

Strongly considering a home purchase in Temple Hills? Awesome! You picked an energetic 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 serve 3.8 million customers across the country and know the Temple Hills housing market well.

Temple Hills'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. Ongoing cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Temple Hills area, but so much change also means more traffic, more competition, and a need for more schools. That said, Temple Hills and the surrounding areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream home! When buying a home in Temple Hills, 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. Your home's location will influence almost every aspect of your life. Traveling around Temple Hills will also give you an idea of why homes in west Temple Hills are priced differently than homes in east Temple Hills, what the communities are like, and where to find Temple Hills's coolest attractions.

Are you financially prepared to buy a house in Temple Hills? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Temple Hills. We work with first-time homeowners and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Temple Hills.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Temple Hills house hunt. Next, 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. While everyone's situation is different, an online search for Temple Hills averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, consider how much you can contribute to a down payment. Putting at least 20% down will improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

It's Go Time! Buy a House in Temple Hills, 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 Temple Hills. Contact Mr. Cooper as you look to buy a home in Temple Hills. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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