The Process of Buying a Home in Lakewood, CA

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Understanding the Lakewood, CA Housing Landscape

Strongly considering a home purchase in Lakewood? Smart move! You've chosen a lively city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers from coast to coast and have the inside scoop on Lakewood's housing scene.

Given all of California's growth, Lakewood homes aren't always easy to find at a comfortable price. Continued economic growth and cultural expansion have helped to entice retirees, new businesses, and young families to the Lakewood area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Lakewood and the surrounding areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your perfect home! When buying a house in Lakewood, double check that you're factoring in the home's distance from your daily activities. If you can, 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. Traveling around Lakewood will also give you an idea of why homes in west Lakewood are priced differently than homes in east Lakewood, what the communities are like, and where to find Lakewood's coolest attractions.

You're ready to buy a house in Lakewood, but is your bank account? 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 try our best to make the journey easier and more rewarding. You could choose to buy a home in California or elsewhere. We help first-time homeowners 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 Lakewood.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Lakewood. Next, 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. Everyone's situation will differ, but a quick online search for average expenses in Lakewood will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, look at how much money you can put toward a down payment. A down payment of at least 20% can help 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. Credit history is one of the main factors that lenders look at when considering your mortgage application. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Lakewood, CA

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Lakewood. Contact Mr. Cooper as you prepare to buy a house in Lakewood. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

Lakewood, CA Mr. Cooper Customer Reviews

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