The Process of Buying a Home in Herndon, VA

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Understanding the Herndon, VA Housing Landscape

Ready to lay down some roots and buy a house in Herndon? Congratulations! You picked a lively city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers across the country and have the inside scoop on Herndon's housing scene.

Given all of Virginia's growth, Herndon homes aren't always easy to find at a comfortable price. Sustained economic growth and cultural expansion have helped to entice entrepreneurs, retirees, and new graduates to the Herndon area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Herndon and its nearby areas still offer an array of home types and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream house! When looking to buy a house in Herndon, double check that you're factoring in the home's distance from your daily activities. If you can, 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 Herndon will also help you get a feel for how homes in east Herndon differ from west Herndon, where to find Herndon's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Herndon? 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 work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Virginia or elsewhere. We support new and experienced homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Herndon.

First, calculate how much house you can afford. This will help determine the price range for your Herndon house hunt. After that, jot down your 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 Herndon averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home 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). However, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at your credit. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

It's Go Time! Buy a House in Herndon, VA

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Herndon. Contact Mr. Cooper as you get ready to buy a house in Herndon. 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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