What to Know Before Buying a Home in Marshall, TX

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

Ready to lay down some roots and buy a house in Marshall? Awesome! You've chosen a lively city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Marshall housing market.

Given all of Texas's growth, Marshall homes aren't always easy to find at a comfortable price. Continued economic growth and cultural expansion have helped to beckon young families, new businesses, and retirees to the Marshall area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Marshall and the surrounding areas still offer an array of home types and prices. You can find single-family homes, condos, townhomes, and (ideally) your perfect home! When buying a house in Marshall, consider how near or far away the home is from the places you visit most. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Marshall will also help you get a feel for how homes in east Marshall differ from west Marshall, where to find Marshall's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Marshall, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive 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 Marshall. We help experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Marshall.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Marshall house hunt. Next, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Marshall averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, 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, check 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 Marshall, 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 Marshall. Contact Mr. Cooper as you get ready to buy a house in Marshall. 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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