The Process of Buying a Home in Farmington, MO

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Exploring Farmington, MO From North to South

Ready to lay down some roots and buy a house in Farmington? Smart move! You've chosen a colorful city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers from coast to coast and know the Farmington housing market well.

Given all of Missouri's growth, Farmington homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Farmington area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Farmington and its nearby areas still offer a variety of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When looking to buy a house in Farmington, consider how near or far away the home is from the places you visit most. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Farmington will help you see how the northern part differs from the southern part, where to find Farmington's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Farmington? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 Farmington. We help experienced homeowners and first-time homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Farmington.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Farmington. Next, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Searching the web for Farmington averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, consider how much you can contribute to a down payment. Putting at least 20% down will improve 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. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. 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!

It's Go Time! Buy a House in Farmington, MO

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 Farmington, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Farmington. 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.*

Farmington, MO Mr. Cooper Customer Reviews

Read real stories from real Mr. Cooper home buyers and sellers in Farmington, MO. Then contact us to see what we can do for you.

Buying or selling a house in Farmington? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.