The Process of Buying a Home in Plymouth, MN

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Exploring Plymouth, MN From North to South

Ready to lay down some roots and buy a house in Plymouth? Congratulations! You've chosen a vibrant city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers across the country and are familiar with the ins-and-outs of the Plymouth housing market.

Plymouth'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 entice entrepreneurs, retirees, and new graduates to the Plymouth area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Plymouth and its neighboring areas still offer a wide range of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When looking to buy a house in Plymouth, consider the home's location in relation to your everyday activities. If you can, test drive your route to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Plymouth will also give you an idea of why homes in west Plymouth are priced differently than homes in east Plymouth, what the communities are like, and where to find Plymouth's coolest attractions.

Are your finances in the right place to buy a home in Plymouth? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive 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 help first-time homeowners and experienced 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 Plymouth.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Plymouth. After that, 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 Plymouth averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

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). Even so, down payment requirements can differ depending on the loan type. 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. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Plymouth, 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 Plymouth, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Plymouth. 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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