All About Buying a House in Mattoon, IL

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Understanding the Mattoon, IL Housing Landscape

Ready to lay down some roots and buy a house in Mattoon? Smart move! You selected a vibrant city with a great balance 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 across the country and have the inside scoop on Mattoon's housing scene.

Given all of Illinois's growth, Mattoon homes aren't always easy to find at a comfortable price. Sustained economic growth and cultural expansion have helped to entice entrepreneurs, retirees, and new graduates to the Mattoon area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Mattoon and its nearby areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream home! When buying a home in Mattoon, consider how near or far away the home is from the places you visit most. If possible, test drive your route to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Mattoon will also help you get a feel for how homes in east Mattoon differ from west Mattoon, where to find Mattoon's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Mattoon? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Mattoon. We work with first-time homeowners and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Mattoon.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Mattoon. Then, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Mattoon 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. A down payment of at least 20% can help boost 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. Here's where it can help to get prequalified for a mortgage. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

Make Your Move: Buy a Home in Mattoon, 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 Mattoon, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Mattoon. 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.*

Mr. Cooper Customer Reviews for Mattoon, IL

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