All About Buying a House in Oxford, MS

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Understanding the Oxford, MS Housing Landscape

Thinking about buying a home in Oxford? Awesome! You selected a lively city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Oxford housing market.

Oxford'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. Continued cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Oxford area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Oxford and its nearby areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream house! When looking to buy a house in Oxford, consider the home's location in relation to your everyday 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. Discovering different parts of Oxford will help you see how the northern part differs from the southern part, where to find Oxford's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Oxford? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Oxford. We help 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 Oxford.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Oxford. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Oxford averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, look at how much money you can put toward a down payment. Placing a minimum of 20% down can improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

It's Go Time! Buy a House in Oxford, MS

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Oxford, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Oxford. We're here for you every step of 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.*

Mr. Cooper Reviews from Real Customers in Oxford, MS

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