What to Know Before Buying a Home in Woodbury, MN

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Exploring Woodbury, MN From North to South

Strongly considering a home purchase in Woodbury? Smart move! You picked an energetic city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers from coast to coast and have the inside scoop on Woodbury's housing scene.

Woodbury is growing by the day, which means Woodbury homes don't always come cheap. Continued economic growth and cultural expansion have helped to entice retirees, new businesses, and young families to the Woodbury area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Woodbury and the surrounding areas still offer a wide range of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When buying a house in Woodbury, consider how near or far away the home is from the places you visit most. If you can, 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. Exploring Woodbury will also help you get a feel for how homes in east Woodbury differ from west Woodbury, where to find Woodbury's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Woodbury? 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 the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Minnesota or elsewhere. We work with experienced homeowners and first-time homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Woodbury.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Woodbury. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Searching the web for Woodbury 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. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, 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, consider your credit profile. 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 more options are always good!

Make Your Move: Buy a Home in Woodbury, MN

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Woodbury. Contact Mr. Cooper as you prepare to buy a house in Woodbury. 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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