Understanding the Holladay, UT Housing Landscape
Ready to lay down some roots and buy a house in Holladay? Awesome! You've chosen a colorful city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers across the country and have the inside scoop on Holladay's housing scene.
Given all of Utah's growth, Holladay homes aren't always easy to find at a comfortable price. Sustained support for local businesses and cultural growth have helped to beckon young families, new businesses, and retirees to the Holladay area, but so much change also means more traffic, more competition, and a need for more schools. That said, Holladay and the surrounding areas still offer a wide range of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream house! When looking to buy a house in Holladay, double check that you're factoring in the home's distance from your daily activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Exploring Holladay will also help you get a feel for how homes in east Holladay differ from west Holladay, what the communities are like, and where to find Holladay's coolest attractions.
You're ready to buy a house in Holladay, but is your bank account? 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 try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Utah or somewhere else entirely. We work with experienced homeowners and first-time homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Holladay.
First, estimate how much house you can afford. This will help you set a price range while house shopping in Holladay. After that, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Holladay 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.
Now, 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). However, the required down payment will depend on the type of loan you get. 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, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!
Make Your Move: Buy a Home in Holladay, UT
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 Holladay, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Holladay.