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The Process of Buying a Home in Oakdale, MN

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Understanding the Oakdale, MN Housing Landscape

Thinking about buying a home in Oakdale? Great idea! You've chosen a vibrant city with a great balance 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 nationwide and are familiar with the ins-and-outs of the Oakdale housing market.

Given all of Minnesota's growth, Oakdale homes aren't always easy to find at a comfortable price. Sustained support for local businesses and cultural growth have helped to entice young families, new businesses, and retirees to the Oakdale area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Oakdale and its nearby areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream house! When buying a home in Oakdale, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Oakdale will also help you get a feel for how homes in east Oakdale differ from west Oakdale, what the communities are like, and where to find Oakdale's coolest attractions.

Are your finances in the right place to buy a home in Oakdale? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Minnesota or elsewhere. We support experienced homeowners and first-time homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Oakdale.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Oakdale. 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 Oakdale averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, consider your credit profile. Credit history is one of the main factors that lenders look at when considering your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

It's Go Time! Buy a House in Oakdale, 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 Oakdale. Contact Mr. Cooper as you look to buy a home in Oakdale. 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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