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What to Know Before Buying a Home in Athens, TN

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Understanding the Athens, TN Housing Landscape

Thinking about buying a home in Athens? Smart move! You selected a colorful city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers across the country and know the Athens housing market well.

Athens is growing by the day, which means Athens homes don't always come cheap. Ongoing cultural expansion and economic growth have helped to beckon entrepreneurs, retirees, and new graduates to the Athens area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Athens and its neighboring areas still offer a wide range of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream house! When looking to buy a house in Athens, consider the home's location in relation to your everyday activities. If possible, test drive your route 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 Athens will also give you an idea of why homes in west Athens are priced differently than homes in east Athens, what the neighborhoods are like, and where to find Athens's hottest attractions.

Are you financially prepared to buy a house in Athens? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Athens. We help new and experienced homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Athens.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Athens. Then, 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. Everyone's situation will differ, but a quick online search for average expenses in Athens 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, look at how much money you can put toward a down payment. Placing a minimum of 20% down can increase 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. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is an important part of 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!

Move Up and Out: Buying Your Dream House in Athens, TN

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 Athens. Contact Mr. Cooper as you prepare to buy a house in Athens. We're here to help you along 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.*

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