All About Buying a House in Troy, MO

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Get Familiar with the Lay of the Land in Troy, MO

Ready to lay down some roots and buy a house in Troy? Great idea! You picked a colorful city with a great balance of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers nationwide and have the inside scoop on Troy's housing scene.

Troy'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. Ongoing support for local businesses and cultural growth have helped to entice young families, new businesses, and retirees to the Troy area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Troy and its nearby areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When buying a house in Troy, 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 Troy will also give you an idea of why homes in west Troy are priced differently than homes in east Troy, what the neighborhoods are like, and where to find Troy's hottest attractions.

You're ready to buy a house in Troy, but is your bank account? 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 Troy. We help first-time homeowners and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Troy.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Troy house hunt. Next, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Troy will usually point you in the right direction. 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. Placing a minimum of 20% down can boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. 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 one of the main factors that lenders look at when considering 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!

Move Up and Out: Buying Your Dream House in Troy, 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 Troy. Contact Mr. Cooper as you get ready to buy a house in Troy. We're here for you every step of the way 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.*

Mr. Cooper Reviews from Real Customers in Troy, MO

Take it from these Mr. Cooper home buyers and sellers in Troy, MO: We love helping homeowners. Call now to see how we can serve you.

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