The Process of Buying a Home in Columbia, MO

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Understanding the Columbia, MO Housing Landscape

Ready to lay down some roots and buy a house in Columbia? Great idea! You picked a vibrant city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Columbia housing market.

Columbia is growing by the day, which means Columbia homes don't always come cheap. Sustained cultural expansion and economic growth have helped to beckon retirees, new businesses, and young families to the Columbia area, but so much change also means more traffic, more competition, and a need for more schools. That said, Columbia and the surrounding areas still offer a wide range of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream home! When buying a house in Columbia, consider how near or far away the home is from the places you visit most. 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 Columbia will help you see how the northern part differs from the southern part, what the communities are like, and where to find Columbia's coolest attractions.

Are you financially prepared to buy a house in Columbia? 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 work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Missouri or elsewhere. We work with first-time homeowners and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Columbia.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Columbia. Next, map out 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 Columbia 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.

Now, consider how much you can contribute to a down payment. Putting at least 20% down will boost 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. 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. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

Make Your Move: Buy a Home in Columbia, MO

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Columbia, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Columbia. 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.*

Columbia, MO Mr. Cooper Customer Reviews

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