The Process of Buying a Home in Houston, TX

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Understanding the Houston, TX Housing Landscape

Strongly considering a home purchase in Houston? Smart move! You picked a colorful 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 from coast to coast and are familiar with the ins-and-outs of the Houston housing market.

Houston'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. Ongoing cultural expansion and economic growth have helped to entice young families, new businesses, and retirees to the Houston area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Houston and its nearby areas still offer a variety of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When looking to buy a house in Houston, consider the home's location in relation to your everyday activities. If possible, 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. Traveling around Houston will also give you an idea of why homes in west Houston are priced differently than homes in east Houston, what the communities are like, and where to find Houston's coolest attractions.

You're ready to buy a house in Houston, 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 try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Houston. We work with experienced homeowners and first-time homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Houston.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Houston. After that, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in Houston will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, 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 will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

Make Your Move: Buy a Home in Houston, TX

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Houston. Contact Mr. Cooper as you get ready to buy a house in Houston. We're here to help you along 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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