What to Know Before Buying a Home in Tupelo, MS

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Exploring Tupelo, MS From North to South

Ready to lay down some roots and buy a house in Tupelo? Great idea! You picked an energetic 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 serve 3.8 million customers nationwide and are familiar with the ins-and-outs of the Tupelo housing market.

Tupelo is growing by the day, which means Tupelo homes don't always come cheap. Sustained support for local businesses and cultural growth have helped to entice young families, new businesses, and retirees to the Tupelo area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Tupelo 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 looking to buy a house in Tupelo, 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 home's location will influence almost every aspect of your life. Traveling around Tupelo will also give you an idea of why homes in west Tupelo are priced differently than homes in east Tupelo, where to find Tupelo's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Tupelo? 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 try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Tupelo. We support experienced homeowners and first-time homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Tupelo.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Tupelo house hunt. Next, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Tupelo will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, look at how much money you can put toward a down payment. A down payment of at least 20% can help increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, 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, take a good look at your credit. Credit history is an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

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

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 Tupelo. Contact Mr. Cooper as you get ready to buy a house in Tupelo. We're here for you every step of the way 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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