The Process of Buying a Home in DeSoto, TX

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Understanding the DeSoto, TX Housing Landscape

Thinking about buying a home in DeSoto? Great idea! You've chosen a lively city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the DeSoto housing market.

DeSoto'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 economic growth and cultural expansion have helped to attract retirees, new businesses, and young families to the DeSoto area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, DeSoto and its neighboring areas still offer an array of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your perfect home! When buying a house in DeSoto, 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. Discovering different parts of DeSoto will help you see how the northern part differs from the southern part, where to find DeSoto's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in DeSoto? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Texas or elsewhere. We help new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in DeSoto.

Before anything else, estimate how much house you can afford. This will help determine the price range for your DeSoto house hunt. Then, 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. While everyone's situation is different, an online search for DeSoto 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, consider how much you can contribute to 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). 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. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at 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 DeSoto, TX

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 DeSoto. Contact Mr. Cooper as you prepare to buy a house in DeSoto. 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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