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The Process of Buying a Home in Martinsville, VA

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Exploring Martinsville, VA From North to South

Thinking about buying a home in Martinsville? Awesome! You selected an energetic city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers across the country and are familiar with the ins-and-outs of the Martinsville housing market.

Given all of Virginia's growth, Martinsville homes aren't always easy to find at a comfortable price. Ongoing cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Martinsville area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Martinsville and its nearby areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When looking to buy a house in Martinsville, consider the home's location in relation to your everyday activities. If possible, 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. Exploring Martinsville will also help you get a feel for how homes in east Martinsville differ from west Martinsville, where to find Martinsville's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Martinsville, but is your bank account? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 work with new and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Martinsville.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Martinsville. Then, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Searching the web for Martinsville averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, 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). That said, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Getting prequalified will give you an idea of how much you might qualify 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?

Make Your Move: Buy a Home in Martinsville, VA

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 Martinsville. Contact Mr. Cooper as you get ready to buy a house in Martinsville. We're here for you every step of 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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Simplify the home buying or selling process in Martinsville with Mr. Cooper.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.