What to Know Before Buying a Home in London, OH

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Exploring London, OH From North to South

Strongly considering a home purchase in London? Awesome! You selected a lively city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers from coast to coast and have the inside scoop on London's housing scene.

London'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. Sustained economic growth and cultural expansion have helped to beckon young families, new businesses, and retirees to the London area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, London and its neighboring areas still offer an array of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your perfect home! When buying a house in London, consider how near or far away the home is from the places you visit most. 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 London will also help you get a feel for how homes in east London differ from west London, what the communities are like, and where to find London's coolest attractions.

Are you financially prepared to buy a house in London? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home 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 Ohio or somewhere else entirely. We serve experienced homeowners and first-time homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in London.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in London. Next, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for London averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, consider how much you can contribute to a down payment. A down payment of at least 20% can help improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. 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 options are always a good thing!

It's Go Time! Buy a House in London, OH

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 London. Contact Mr. Cooper as you prepare to buy a house in London. 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.*

Mr. Cooper Reviews from Real Customers in London, OH

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