Exploring Springfield, VA From North to South
Ready to lay down some roots and buy a house in Springfield? Smart move! You picked a vibrant city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers nationwide and have the inside scoop on Springfield's housing scene.
Given all of Virginia's growth, Springfield homes aren't always easy to find at a comfortable price. Ongoing economic growth and cultural expansion have helped to attract young families, new businesses, and retirees to the Springfield area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Springfield and the surrounding areas still offer an array of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream house! When buying a house in Springfield, 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 Springfield will help you see how the northern part differs from the southern part, where to find Springfield's most popular attractions, and what the neighborhoods are like.
You're ready to buy a house in Springfield, but is your bank account? 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 try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Virginia or somewhere else entirely. We help first-time homeowners and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Springfield.
First, calculate how much house you can afford. This will help determine the price range for your Springfield house hunt. Next, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Springfield 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.
Next, look at how much money you can put toward a down payment. A down payment of at least 20% can help improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. 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 healthier your credit is, the more mortgage options you may have open to you— and more options are always good!
It's Go Time! Buy a House in Springfield, VA
While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Springfield. Contact Mr. Cooper as you prepare to buy a house in Springfield.