Get Familiar with the Lay of the Land in Marion, VA
Thinking about buying a home in Marion? Great idea! You picked a colorful city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers nationwide and are familiar with the ins-and-outs of the Marion housing market.
Given all of Virginia's growth, Marion homes aren't always easy to find at a comfortable price. Ongoing cultural expansion and economic growth have helped to beckon entrepreneurs, retirees, and new graduates to the Marion area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Marion and the surrounding areas still offer a variety of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When buying a home in Marion, consider how near or far away the home is from the places you visit most. If possible, 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. Traveling around Marion will also give you an idea of why homes in west Marion are priced differently than homes in east Marion, where to find Marion's most popular attractions, and what the neighborhoods are like.
Are you financially prepared to buy a house in Marion? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 Marion. We work with experienced homeowners and first-time homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Marion.
First, estimate how much house you can afford. This will help you narrow your search when house hunting in Marion. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Marion will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.
Then, 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 favorable rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Credit history is one of the main factors that lenders look at when considering 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?
Make Your Move: Buy a Home in Marion, 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 feels more rewarding when you get to live in a place like Marion. Contact Mr. Cooper as you look to buy a home in Marion.