All About Buying a House in Decatur, IL

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Understanding the Decatur, IL Housing Landscape

Ready to lay down some roots and buy a house in Decatur? Congratulations! You've chosen a lively city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers nationwide and have the inside scoop on Decatur's housing scene.

Decatur is growing by the day, which means Decatur homes don't always come cheap. Sustained cultural expansion and economic growth have helped to entice retirees, new businesses, and young families to the Decatur area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Decatur and its nearby areas still offer a variety of home styles and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a home in Decatur, consider how near or far away the home is from the places you visit most. If you can, test drive your route to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Decatur will also help you get a feel for how homes in east Decatur differ from west Decatur, what the neighborhoods are like, and where to find Decatur's hottest attractions.

You're ready to buy a house in Decatur, but is your bank account? 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 every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Decatur. We serve experienced homeowners and first-time homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Decatur.

First, estimate how much house you can afford. This will help determine the price range for your Decatur house hunt. Next, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Decatur will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible 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?

It's Go Time! Buy a House in Decatur, IL

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Decatur. Contact Mr. Cooper as you prepare to buy a house in Decatur. We're here for you every step of 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.*

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