What to Know Before Buying a Home in Solon, OH

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Understanding the Solon, OH Housing Landscape

Strongly considering a home purchase in Solon? Smart move! You selected an energetic city with a great balance of parks, businesses, and educational opportunities, 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 Solon housing market well.

Solon'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 economic growth and cultural expansion have helped to entice young families, new businesses, and retirees to the Solon area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Solon and the surrounding areas still offer a variety of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a house in Solon, 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 home's location will influence almost every aspect of your life. Discovering different parts of Solon will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Solon's hottest attractions.

Are you financially prepared to buy a house in Solon? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Ohio or elsewhere. We help experienced homeowners and first-time homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Solon.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Solon. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Solon averages will usually give you some solid estimates. 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. Putting at least 20% down will improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. 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, check your credit. 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 who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Solon, OH

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Solon, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Solon. 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.*

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