The Process of Buying a Home in Madison, MS

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Get Familiar with the Lay of the Land in Madison, MS

Thinking about buying a home in Madison? Awesome! You've chosen an energetic 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 support 3.8 million customers across the country and are familiar with the ins-and-outs of the Madison housing market.

Madison is growing by the day, which means Madison homes don't always come cheap. Ongoing economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Madison area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Madison and the surrounding areas still offer a variety of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When looking to buy a house in Madison, 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. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Madison will also help you get a feel for how homes in east Madison differ from west Madison, what the communities are like, and where to find Madison's coolest attractions.

Are you financially prepared to buy a house in Madison? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 Mississippi or elsewhere. We help first-time homeowners and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Madison.

First, calculate how much house you can afford. This will help determine the price range for your Madison house hunt. Next, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Madison averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, figure out what a realistic down payment would be for you. Putting at least 20% down will improve 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. 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, take a good look at your credit. 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 options are always a good thing!

Make Your Move: Buy a Home in Madison, MS

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 Madison. Contact Mr. Cooper as you prepare to buy a house in Madison. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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