The Process of Buying a Home in DeKalb, IL

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Understanding the DeKalb, IL Housing Landscape

Ready to lay down some roots and buy a house in DeKalb? Great idea! You've chosen a vibrant 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 service 3.8 million customers nationwide and have the inside scoop on DeKalb's housing scene.

Given all of Illinois's growth, DeKalb homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to beckon entrepreneurs, retirees, and new graduates to the DeKalb area, but so much change also means a strain on housing options, school capacities, and city roads. That said, DeKalb and its nearby areas still offer a wide range of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your perfect home! When looking to buy a house in DeKalb, 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 home's location will influence almost every aspect of your life. Traveling around DeKalb will also give you an idea of why homes in west DeKalb are priced differently than homes in east DeKalb, what the neighborhoods are like, and where to find DeKalb's hottest attractions.

Are you financially prepared to buy a house in DeKalb? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Illinois or elsewhere. We help first-time homeowners and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in DeKalb.

Before anything else, calculate how much house you can afford. This will help determine the price range for your DeKalb house hunt. Next, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in DeKalb will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, figure out what a realistic down payment would be for you. Putting at least 20% down will improve your odds of getting a good 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. 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, consider your credit profile. Credit history is an important part of 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?

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

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 DeKalb. Contact Mr. Cooper as you get ready to buy a house in DeKalb. 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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