The Process of Buying a Home in Pharr, TX

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

Thinking about buying a home in Pharr? Congratulations! You picked a vibrant city with a great balance 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 have the inside scoop on Pharr's housing scene.

Given all of Texas's growth, Pharr homes aren't always easy to find at a comfortable price. Ongoing economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the Pharr area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Pharr and its neighboring areas still offer a variety of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a home in Pharr, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Pharr will also give you an idea of why homes in west Pharr are priced differently than homes in east Pharr, where to find Pharr's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Pharr? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Pharr. We support experienced homeowners and first-time homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Pharr.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Pharr. Next, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Pharr averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. 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, consider your credit profile. Credit history is an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

It's Go Time! Buy a House in Pharr, TX

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Pharr. Contact Mr. Cooper as you prepare to buy a house in Pharr. We're here for you from start to finish 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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