All About Buying a House in O'Fallon, MO

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Get Familiar with the Lay of the Land in O'Fallon, MO

Ready to lay down some roots and buy a house in O'Fallon? Congratulations! You've chosen a lively city with a dynamic selection 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 nationwide and know the O'Fallon housing market well.

Given all of Missouri's growth, O'Fallon homes aren't always easy to find at a comfortable price. Ongoing cultural expansion and economic growth have helped to beckon retirees, new businesses, and young families to the O'Fallon area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, O'Fallon and its nearby areas still offer a variety of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When buying a house in O'Fallon, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Exploring O'Fallon will also help you get a feel for how homes in east O'Fallon differ from west O'Fallon, what the neighborhoods are like, and where to find O'Fallon's hottest attractions.

You're ready to buy a house in O'Fallon, but is your bank account? 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. It doesn't matter whether you want to buy a home in Missouri or somewhere else entirely. We serve experienced homeowners and first-time homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in O'Fallon.

First, calculate how much house you can afford. This will help you set a price range while house shopping in O'Fallon. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Searching the web for O'Fallon 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.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. 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. Credit history is an important part of 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 O'Fallon, MO

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like O'Fallon. Contact Mr. Cooper as you get ready to buy a house in O'Fallon. We're here to help you along 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.*

O'Fallon, MO Mr. Cooper Customer Reviews

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