All About Buying a House in Salem, OR

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Exploring Salem, OR From North to South

Strongly considering a home purchase in Salem? Awesome! You've chosen an energetic city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers from coast to coast and have the inside scoop on Salem's housing scene.

Salem'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. Continued support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Salem area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Salem and the surrounding areas still offer a variety of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream home! When looking to buy a house in Salem, consider the home's location in relation to your everyday activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Traveling around Salem will also give you an idea of why homes in west Salem are priced differently than homes in east Salem, what the communities are like, and where to find Salem's coolest attractions.

You're ready to buy a house in Salem, but is your bank account? 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. You could choose to buy a home in Oregon or elsewhere. We help experienced homeowners and first-time homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Salem.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Salem. Then, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Salem averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Now, look at how much money you can put toward a down payment. Placing a minimum of 20% down can improve 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. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

It's Go Time! Buy a House in Salem, OR

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 Salem. Contact Mr. Cooper as you look to buy a home in Salem. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

Mr. Cooper Customer Reviews for Salem, OR

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

Buying or selling a house in Salem? 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.