Get Familiar with the Lay of the Land in Sterling, VA
Thinking about buying a home in Sterling? Great idea! You picked a lively 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 from coast to coast and have the inside scoop on Sterling's housing scene.
Given all of Virginia's growth, Sterling homes aren't always easy to find at a comfortable price. Continued cultural expansion and economic growth have helped to beckon retirees, new businesses, and young families to the Sterling area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Sterling and the surrounding areas still offer a variety of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When looking to buy a house in Sterling, consider how near or far away the home is from the places you visit most. If possible, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Sterling will also give you an idea of why homes in west Sterling are priced differently than homes in east Sterling, where to find Sterling's most popular attractions, and what the neighborhoods are like.
You're ready to buy a house in Sterling, 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 work to make the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Sterling. We help 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 Sterling.
First, calculate how much house you can afford. This will help you narrow your search when house hunting in Sterling. Then, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Sterling 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, look at how much money you can put toward a down payment. Placing a minimum of 20% down can increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, the required down payment will depend on the type of loan you get. 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, consider your credit profile. 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 options are always a good thing!
It's Go Time! Buy a House in Sterling, 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 Sterling, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Sterling.