What to Know Before Buying a Home in Olathe, CO

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Understanding the Olathe, CO Housing Landscape

Ready to lay down some roots and buy a house in Olathe? Congratulations! You picked a vibrant city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers nationwide and have the inside scoop on Olathe's housing scene.

Olathe's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Ongoing support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Olathe area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Olathe and its nearby areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When looking to buy a house in Olathe, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Olathe will also give you an idea of why homes in west Olathe are priced differently than homes in east Olathe, what the neighborhoods are like, and where to find Olathe's hottest attractions.

Are your finances in the right place to buy a home in Olathe? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Colorado or somewhere else entirely. We support new and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Olathe.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Olathe. Then, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Olathe 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, consider how much you can contribute to a down payment. A down payment of at least 20% can help improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. 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 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!

Make Your Move: Buy a Home in Olathe, CO

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 Olathe, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Olathe. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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