The Process of Buying a Home in Fargo, ND

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Get Familiar with the Lay of the Land in Fargo, ND

Thinking about buying a home in Fargo? Great idea! You picked a lively city with an ideal amount 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 across the country and know the Fargo housing market well.

Given all of North Dakota's growth, Fargo homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to beckon entrepreneurs, retirees, and new graduates to the Fargo area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Fargo and the surrounding areas still offer a variety of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream house! When looking to buy a house in Fargo, 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. Your home's location will influence almost every aspect of your life. Traveling around Fargo will also give you an idea of why homes in west Fargo are priced differently than homes in east Fargo, what the communities are like, and where to find Fargo's coolest attractions.

Are your finances in the right place to buy a home in Fargo? 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. It doesn't matter whether you want to buy a home in North Dakota or somewhere else entirely. 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 Fargo.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Fargo. Then, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Fargo 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, consider how much you can contribute to a down payment. Placing a minimum of 20% down can increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, 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 healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

Make Your Move: Buy a Home in Fargo, ND

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But moving feels more rewarding when you get to live in a place like Fargo. Contact Mr. Cooper as you look to buy a home in Fargo. 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.*

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Buying or selling a house in Fargo? 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.