All About Buying a House in Lakeland, FL

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Understanding the Lakeland, FL Housing Landscape

Ready to lay down some roots and buy a house in Lakeland? Awesome! You selected a colorful city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers from coast to coast and have the inside scoop on Lakeland's housing scene.

Lakeland'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. Sustained support for local businesses and cultural growth have helped to beckon entrepreneurs, retirees, and new graduates to the Lakeland area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Lakeland and its nearby areas still offer an array of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream house! When looking to buy a house in Lakeland, consider how near or far away the home is from the places you visit most. 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. Exploring Lakeland will also help you get a feel for how homes in east Lakeland differ from west Lakeland, where to find Lakeland's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Lakeland? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home 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 Lakeland. We support new and experienced homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Lakeland.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Lakeland house hunt. After that, add up the 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 Lakeland 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.

Now, consider how much you can contribute to a down payment. A down payment of at least 20% can help increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, 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, check your credit. Lenders place a high importance on credit history when looking at 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?

Make Your Move: Buy a Home in Lakeland, FL

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 can also be incredibly rewarding, especially when you get to live in an amazing city like Lakeland. Contact Mr. Cooper as you get ready to buy a house in Lakeland. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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