What to Know Before Buying a Home in Freeport, IL

Busy? Have us call you back. Call Me Back

More Information

Get Familiar with the Lay of the Land in Freeport, IL

Thinking about buying a home in Freeport? Smart move! You picked a vibrant city with an ideal amount 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 know the Freeport housing market well.

Freeport'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. Continued economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Freeport area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Freeport and its nearby areas still offer a variety of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When buying a home in Freeport, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Exploring Freeport will also help you get a feel for how homes in east Freeport differ from west Freeport, where to find Freeport's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Freeport, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive 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 Freeport. We work with new and experienced homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Freeport.

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

Now, figure out what a realistic down payment would be for you. A down payment of at least 20% can help boost your chances of getting a great 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 helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and who doesn't want more choices in life?

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

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Freeport. Contact Mr. Cooper as you look to buy a home in Freeport. We're here to help you along 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.*

Freeport, IL Mr. Cooper Customer Reviews

Take it from these Mr. Cooper home buyers and sellers in Freeport, IL: We love helping homeowners. Call now to see how we can serve you.

Buying or selling a house in Freeport? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.