What to Know Before Buying a Home in Edinburg, TX

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Understanding the Edinburg, TX Housing Landscape

Thinking about buying a home in Edinburg? Awesome! You've chosen a vibrant city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers nationwide and are familiar with the ins-and-outs of the Edinburg housing market.

Edinburg is growing by the day, which means Edinburg homes don't always come cheap. Ongoing economic growth and cultural expansion have helped to beckon young families, new businesses, and retirees to the Edinburg area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Edinburg and its nearby areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When looking to buy a house in Edinburg, double check that you're factoring in the home's distance from your daily 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 Edinburg will help you see how the northern part differs from the southern part, what the communities are like, and where to find Edinburg's coolest attractions.

Are you financially prepared to buy a house in Edinburg? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. 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 experienced homeowners and first-time homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Edinburg.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Edinburg. Then, add up the 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 Edinburg averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, consider how much you can contribute to a down payment. Putting at least 20% down will boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, 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 will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. You may be presented with more mortgage options if you have healthy credit— and who doesn't want more choices in life?

It's Go Time! Buy a House in Edinburg, 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 Edinburg. Contact Mr. Cooper as you get ready to buy a house in Edinburg. We're here for you every step of the way 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.*

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