All About Buying a House in Eugene, OR

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Exploring Eugene, OR From North to South

Thinking about buying a home in Eugene? Congratulations! You picked a vibrant city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers nationwide and have the inside scoop on Eugene's housing scene.

Eugene'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 attract entrepreneurs, retirees, and new graduates to the Eugene area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Eugene and its nearby areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream home! When buying a home in Eugene, consider how near or far away the home is from the places you visit most. If possible, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Eugene will also give you an idea of why homes in west Eugene are priced differently than homes in east Eugene, what the communities are like, and where to find Eugene's coolest attractions.

Are you financially prepared to buy a house in Eugene? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 Eugene. We support experienced homeowners and first-time homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Eugene.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Eugene. Next, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Eugene 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.

Next, consider how much you can contribute to a down payment. Placing a minimum of 20% down can boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, consider your credit profile. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Eugene, OR

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Eugene. Contact Mr. Cooper as you get ready to buy a house in Eugene. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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