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All About Buying a House in Brainerd, MN

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Exploring Brainerd, MN From North to South

Thinking about buying a home in Brainerd? Great idea! You picked a lively city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers from coast to coast and have the inside scoop on Brainerd's housing scene.

Brainerd'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 economic growth and cultural expansion have helped to entice retirees, new businesses, and young families to the Brainerd area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Brainerd and the surrounding areas still offer an array of home styles and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream house! When buying a home in Brainerd, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Discovering different parts of Brainerd will help you see how the northern part differs from the southern part, what the communities are like, and where to find Brainerd's coolest attractions.

Are your finances in the right place to buy a home in Brainerd? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade 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 Minnesota or somewhere else entirely. We work with first-time homeowners and experienced homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Brainerd.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Brainerd. Next, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Brainerd averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, figure out what a realistic down payment would be for you. A down payment of at least 20% can help increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. This is where getting prequalified for a mortgage comes in handy. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Credit history is an important part of 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 Brainerd, MN

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Brainerd. Contact Mr. Cooper as you get ready to buy a house in Brainerd. We're here for you every step of 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.*

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