All About Buying a House in Addison, TX

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Get Familiar with the Lay of the Land in Addison, TX

Thinking about buying a home in Addison? Congratulations! You've chosen an energetic city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers nationwide and know the Addison housing market well.

Addison is growing by the day, which means Addison homes don't always come cheap. Ongoing cultural expansion and economic growth have helped to attract young families, new businesses, and retirees to the Addison area, but so much change also means more traffic, more competition, and a need for more schools. That said, Addison and its nearby areas still offer a wide range of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream house! When buying a house in Addison, double check that you're factoring in the home's distance from your daily 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. Discovering different parts of Addison will help you see how the northern part differs from the southern part, where to find Addison's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Addison? 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. You could choose to buy a home in Texas or elsewhere. We serve new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Addison.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Addison. After that, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. Searching the web for Addison averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can increase your odds of getting a good 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. Prequalification points you in the right direction as far as how much you may be eligible 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!

It's Go Time! Buy a House in Addison, TX

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Addison, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Addison. 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.*

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