All About Buying a House in Godfrey, IL

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

Thinking about buying a home in Godfrey? Great idea! You've chosen a colorful city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers nationwide and know the Godfrey housing market well.

Given all of Illinois's growth, Godfrey homes aren't always easy to find at a comfortable price. Continued economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Godfrey area, but so much change also means more traffic, more competition, and a need for more schools. That said, Godfrey and its nearby areas still offer a variety of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream house! When buying a house in Godfrey, consider the home's location in relation to your everyday activities. 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. Discovering different parts of Godfrey will help you see how the northern part differs from the southern part, what the communities are like, and where to find Godfrey's coolest attractions.

Are you financially prepared to buy a house in Godfrey? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade 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 Godfrey. We support 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 Godfrey.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Godfrey. After that, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Godfrey 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.

Next, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can 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. This is where getting prequalified for a mortgage comes in handy. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, consider your credit profile. Credit history is an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

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

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Godfrey, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Godfrey. We're here for you from start to finish 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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