All About Buying a House in Salt Lake City, UT

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Get Familiar with the Lay of the Land in Salt Lake City, UT

Strongly considering a home purchase in Salt Lake City? Congratulations! You've chosen a colorful city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers across the country and know the Salt Lake City housing market well.

Given all of Utah's growth, Salt Lake City homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to entice young families, new businesses, and retirees to the Salt Lake City area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Salt Lake City and the surrounding areas still offer a variety of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When looking to buy a house in Salt Lake City, 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 home's location will influence almost every aspect of your life. Exploring Salt Lake City will also help you get a feel for how homes in east Salt Lake City differ from west Salt Lake City, what the neighborhoods are like, and where to find Salt Lake City's hottest attractions.

You're ready to buy a house in Salt Lake City, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. 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 Salt Lake City. 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 Salt Lake City.

Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in Salt Lake City. Next, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Salt Lake City averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, figure out what a realistic down payment would be for you. Putting at least 20% down will 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. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

It's Go Time! Buy a House in Salt Lake City, UT

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Salt Lake City. Contact Mr. Cooper as you get ready to buy a house in Salt Lake City. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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