The Process of Buying a Home in Provo, UT

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Get Familiar with the Lay of the Land in Provo, UT

Strongly considering a home purchase in Provo? Great idea! You picked a lively city with a dynamic selection 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 nationwide and know the Provo housing market well.

Given all of Utah's growth, Provo homes aren't always easy to find at a comfortable price. Continued support for local businesses and cultural growth have helped to beckon young families, new businesses, and retirees to the Provo area, but so much change also means more traffic, more competition, and a need for more schools. That said, Provo and its neighboring areas still offer a variety of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream house! When buying a home in Provo, 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. The location of your house will impact virtually every part of your life. Discovering different parts of Provo will help you see how the northern part differs from the southern part, what the communities are like, and where to find Provo's coolest attractions.

Are your finances in the right place to buy a home in Provo? 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 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 Provo. 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 Provo.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Provo. Then, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Searching the web for Provo 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.

Now, look at how much money you can put toward a down payment. 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). Even so, 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 will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

Make Your Move: Buy a Home in Provo, UT

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Provo, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Provo. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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