Exploring Oakton, VA From North to South
Thinking about buying a home in Oakton? Awesome! You've chosen a colorful city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Oakton housing market.
Oakton is growing by the day, which means Oakton homes don't always come cheap. Ongoing support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Oakton area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Oakton and the surrounding areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When buying a home in Oakton, consider the home's location in relation to your everyday activities. If you can, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Discovering different parts of Oakton will help you see how the northern part differs from the southern part, where to find Oakton's most popular attractions, and what the neighborhoods are like.
Are you financially prepared to buy a house in Oakton? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You could choose to buy a home in Virginia or elsewhere. We serve 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 Oakton.
First, estimate how much house you can afford. This will help you narrow your search when house hunting in Oakton. After that, 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 Oakton averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.
Next, figure out what a realistic down payment would be for you. Putting at least 20% down will improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. 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, consider your credit profile. 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 more options are always good!
Move Up and Out: Buying Your Dream House in Oakton, VA
Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Oakton, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Oakton.