What to Know Before Buying a Home in Roy, UT

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

Strongly considering a home purchase in Roy? Awesome! You picked a lively city with a dynamic selection 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 Roy's housing scene.

Roy'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 support for local businesses and cultural growth have helped to entice young families, new businesses, and retirees to the Roy area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Roy and the surrounding areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When buying a house in Roy, 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 Roy will also help you get a feel for how homes in east Roy differ from west Roy, what the communities are like, and where to find Roy's coolest attractions.

Are your finances in the right place to buy a home in Roy? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Utah or elsewhere. We serve experienced homeowners and first-time homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Roy.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Roy house hunt. Next, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Roy averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can increase your chances of getting a favorable 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, consider your credit profile. 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!

Move Up and Out: Buying Your Dream House in Roy, UT

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 Roy. Contact Mr. Cooper as you prepare to buy a house in Roy. We're here to help you along the way 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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