Exploring Stafford, VA From North to South
Strongly considering a home purchase in Stafford? Smart move! You've chosen a colorful city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers from coast to coast and know the Stafford housing market well.
Stafford is growing by the day, which means Stafford homes don't always come cheap. Sustained cultural expansion and economic growth have helped to attract young families, new businesses, and retirees to the Stafford area, but so much change also means more traffic, more competition, and a need for more schools. That said, Stafford and the surrounding areas still offer a wide range of homes in price and amenities. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When buying a house in Stafford, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your trip from the house 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 Stafford will also help you get a feel for how homes in east Stafford differ from west Stafford, where to find Stafford's most popular attractions, and what the neighborhoods are like.
Are your finances in the right place to buy a home in Stafford? 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 serve first-time homeowners and experienced homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Stafford.
Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Stafford. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Searching the web for Stafford 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.
Then, look at how much money you can put toward a down payment. Placing a minimum of 20% down can boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!
Make Your Move: Buy a Home in Stafford, 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 Stafford. Contact Mr. Cooper as you prepare to buy a house in Stafford.