Get Familiar with the Lay of the Land in Staunton, VA
Thinking about buying a home in Staunton? Great idea! You've chosen an energetic city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers across the country and are familiar with the ins-and-outs of the Staunton housing market.
Staunton is growing by the day, which means Staunton homes don't always come cheap. Continued economic growth and cultural expansion have helped to attract retirees, new businesses, and young families to the Staunton area, but so much change also means more traffic, more competition, and a need for more schools. That said, Staunton and its nearby areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream home! When buying a home in Staunton, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your route 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 Staunton will also help you get a feel for how homes in east Staunton differ from west Staunton, what the communities are like, and where to find Staunton's coolest attractions.
Are your finances in the right place to buy a home in Staunton? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade and work to make the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in Virginia or somewhere else entirely. We work with new and experienced homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Staunton.
First, estimate how much house you can afford. This will help determine the price range for your Staunton house hunt. Then, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Staunton averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.
Next, consider how much you can contribute to a down payment. 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, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. 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. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!
Make Your Move: Buy a Home in Staunton, 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 when you get to live in a stellar city like Staunton, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Staunton.