What to Know Before Buying a Home in Rockwall, TX

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Exploring Rockwall, TX From North to South

Strongly considering a home purchase in Rockwall? Great idea! You've chosen a vibrant city with a great balance of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Rockwall housing market.

Rockwall'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 attract young families, new businesses, and retirees to the Rockwall area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Rockwall and its neighboring areas still offer a wide range of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When buying a home in Rockwall, double check that you're factoring in the home's distance from your daily activities. 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. Traveling around Rockwall will also give you an idea of why homes in west Rockwall are priced differently than homes in east Rockwall, where to find Rockwall's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Rockwall? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and work to make the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in Texas or somewhere else entirely. We serve first-time homeowners and experienced homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Rockwall.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Rockwall. Next, 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. Searching the web for Rockwall averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, figure out what a realistic down payment would be for you. A down payment of at least 20% can help increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, the required down payment will depend on the type of loan you get. 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. Credit history is an important part of 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 Rockwall, TX

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Rockwall, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Rockwall. 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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