What to Know Before Buying a Home in Crystal, MN

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Understanding the Crystal, MN Housing Landscape

Ready to lay down some roots and buy a house in Crystal? Congratulations! You picked a lively city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers nationwide and know the Crystal housing market well.

Crystal'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 beckon retirees, new businesses, and young families to the Crystal area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Crystal and its neighboring areas still offer a variety of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream house! When buying a home in Crystal, double check that you're factoring in the home's distance from your daily activities. If possible, 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. Traveling around Crystal will also give you an idea of why homes in west Crystal are priced differently than homes in east Crystal, what the communities are like, and where to find Crystal's coolest attractions.

Are you financially prepared to buy a house in Crystal? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You could choose to buy a home in Minnesota or elsewhere. We help first-time homeowners and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Crystal.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Crystal house hunt. After that, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Searching the web for Crystal averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, consider how much you can contribute to a down payment. Placing a minimum of 20% down can increase 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. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified helps you know how much you might be eligible to borrow from a lender. 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 more options are always good!

It's Go Time! Buy a House in Crystal, MN

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Crystal, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Crystal. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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