What to Know Before Buying a Home in Dumas, TX

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

Thinking about buying a home in Dumas? Congratulations! You selected a lively city with a great balance of educational opportunities, businesses, 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 have the inside scoop on Dumas's housing scene.

Dumas'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. Sustained support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Dumas area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Dumas and its nearby areas still offer a variety of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When buying a house in Dumas, double check that you're factoring in the home's distance from your daily activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Traveling around Dumas will also give you an idea of why homes in west Dumas are priced differently than homes in east Dumas, what the communities are like, and where to find Dumas's coolest attractions.

You're ready to buy a house in Dumas, but is your bank account? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 work with experienced homeowners and first-time homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Dumas.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Dumas. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Dumas averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, look at how much money you can put toward a down payment. A down payment of at least 20% can help 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. Here's where it can help to get prequalified for a mortgage. 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 more options are always good!

Move Up and Out: Buying Your Dream House in Dumas, TX

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Dumas. Contact Mr. Cooper as you look to buy a home in Dumas. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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