The Process of Buying a Home in Granite City, IL

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Understanding the Granite City, IL Housing Landscape

Strongly considering a home purchase in Granite City? Awesome! You picked a vibrant city with an ideal amount 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 from coast to coast and have the inside scoop on Granite City's housing scene.

Given all of Illinois's growth, Granite City homes aren't always easy to find at a comfortable price. Continued cultural expansion and economic growth have helped to attract young families, new businesses, and retirees to the Granite City area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Granite City and the surrounding areas still offer an array of home types and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream home! When buying a home in Granite City, 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 house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Granite City will help you see how the northern part differs from the southern part, what the communities are like, and where to find Granite City's coolest attractions.

Are your finances in the right place to buy a home in Granite City? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. 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. It doesn't matter whether you want to buy a home in Illinois or somewhere else entirely. We help first-time homeowners and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Granite City.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Granite City. Then, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Granite City averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, 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, check your credit. Credit history is one of the main factors that lenders look at when considering 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?

Move Up and Out: Buying Your Dream House in Granite City, 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 feels more rewarding when you get to live in a place like Granite City. Contact Mr. Cooper as you prepare to buy a house in Granite City. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

Mr. Cooper Reviews from Real Customers in Granite City, IL

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