What to Know Before Buying a Home in Abilene, TX

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Understanding the Abilene, TX Housing Landscape

Thinking about buying a home in Abilene? Awesome! You selected a vibrant city with a great balance 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 know the Abilene housing market well.

Abilene is growing by the day, which means Abilene homes don't always come cheap. Sustained cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Abilene area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Abilene and its neighboring areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your perfect home! When buying a house in Abilene, consider the home's location in relation to your everyday activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Exploring Abilene will also help you get a feel for how homes in east Abilene differ from west Abilene, where to find Abilene's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Abilene, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. It doesn't matter whether you want to buy a home in Texas or somewhere else entirely. We support new and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Abilene.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Abilene house hunt. After that, map out your 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 Abilene averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, figure out what a realistic down payment would be for you. A down payment of at least 20% can help boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, 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. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, consider your credit profile. 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!

Make Your Move: Buy a Home in Abilene, TX

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 Abilene. Contact Mr. Cooper as you get ready to buy a house in Abilene. 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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