The Process of Buying a Home in Edwardsville, IL

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Understanding the Edwardsville, IL Housing Landscape

Strongly considering a home purchase in Edwardsville? Awesome! You selected a vibrant city with a dynamic selection of businesses, schools, restaurants and parks, 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 Edwardsville's housing scene.

Given all of Illinois's growth, Edwardsville homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to beckon young families, new businesses, and retirees to the Edwardsville area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Edwardsville and the surrounding areas still offer a wide range of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream house! When buying a house in Edwardsville, 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. The location of your house will impact virtually every part of your life. Exploring Edwardsville will also help you get a feel for how homes in east Edwardsville differ from west Edwardsville, what the communities are like, and where to find Edwardsville's coolest attractions.

You're ready to buy a house in Edwardsville, 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 Edwardsville. We support 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 Edwardsville.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Edwardsville. After that, jot down 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 Edwardsville 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.

Then, consider how much you can contribute to a down payment. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at your credit. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Edwardsville, 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 when you get to live in a stellar city like Edwardsville, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Edwardsville. 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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