Understanding the Eagan, MN Housing Landscape
Ready to lay down some roots and buy a house in Eagan? Congratulations! You've chosen a colorful city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers nationwide and are familiar with the ins-and-outs of the Eagan housing market.
Given all of Minnesota's growth, Eagan homes aren't always easy to find at a comfortable price. Sustained economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the Eagan area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Eagan and its neighboring areas still offer a variety of home styles and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When buying a house in Eagan, 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. Your home's location will influence almost every aspect of your life. Traveling around Eagan will also give you an idea of why homes in west Eagan are priced differently than homes in east Eagan, what the communities are like, and where to find Eagan's coolest attractions.
Are your finances in the right place to buy a home in Eagan? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. You could choose to buy a home in Minnesota or elsewhere. We work with experienced homeowners and first-time homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Eagan.
Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Eagan. After that, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Eagan will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.
Next, figure out what a realistic down payment would be for you. A down payment of at least 20% can help improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, check your credit. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!
Move Up and Out: Buying Your Dream House in Eagan, MN
Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Eagan. Contact Mr. Cooper as you get ready to buy a house in Eagan.