The Process of Buying a Home in Bristol, TN

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Understanding the Bristol, TN Housing Landscape

Ready to lay down some roots and buy a house in Bristol? Great idea! You picked a vibrant city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers from coast to coast and know the Bristol housing market well.

Given all of Tennessee's growth, Bristol homes aren't always easy to find at a comfortable price. Sustained support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Bristol area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Bristol and its neighboring areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When buying a house in Bristol, 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 home's location will influence almost every aspect of your life. Exploring Bristol will also help you get a feel for how homes in east Bristol differ from west Bristol, where to find Bristol's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Bristol? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Tennessee or elsewhere. We work with new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Bristol.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Bristol. Next, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Bristol averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. 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, check your credit. Credit history is an important part of 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 Bristol, TN

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 Bristol. Contact Mr. Cooper as you prepare to buy a house in Bristol. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

Bristol, TN Mr. Cooper Customer Reviews

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