Get Familiar with the Lay of the Land in Edmonds, WA
Strongly considering a home purchase in Edmonds? Awesome! You've chosen a lively city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers across the country and are familiar with the ins-and-outs of the Edmonds housing market.
Edmonds is growing by the day, which means Edmonds homes don't always come cheap. Continued cultural expansion and economic growth have helped to attract entrepreneurs, retirees, and new graduates to the Edmonds area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Edmonds and the surrounding areas still offer a wide range of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When looking to buy a house in Edmonds, consider how near or far away the home is from the places you visit most. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Edmonds will help you see how the northern part differs from the southern part, what the communities are like, and where to find Edmonds's coolest attractions.
You're ready to buy a house in Edmonds, but is your bank account? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home 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 Washington or somewhere else entirely. We support new and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Edmonds.
Before anything else, estimate how much house you can afford. This will help determine the price range for your Edmonds house hunt. Then, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Edmonds 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.
Now, figure out what a realistic down payment would be for you. A down payment of at least 20% can help increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, 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, take a good look at your credit. Credit history is an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and who doesn't want more choices in life?
It's Go Time! Buy a House in Edmonds, WA
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 moving feels more rewarding when you get to live in a place like Edmonds. Contact Mr. Cooper as you get ready to buy a house in Edmonds.