What to Know Before Buying a Home in Weslaco, TX

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Understanding the Weslaco, TX Housing Landscape

Ready to lay down some roots and buy a house in Weslaco? Great idea! You picked a vibrant city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers across the country and know the Weslaco housing market well.

Weslaco'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. Sustained cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Weslaco area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Weslaco and the surrounding areas still offer a variety of homes in price and amenities. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When buying a house in Weslaco, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your route 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 Weslaco will also help you get a feel for how homes in east Weslaco differ from west Weslaco, where to find Weslaco's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Weslaco? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Weslaco. We work with new and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Weslaco.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Weslaco. After that, jot down your 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 Weslaco 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 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. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Weslaco, 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 Weslaco. Contact Mr. Cooper as you prepare to buy a house in Weslaco. 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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