The Process of Buying a Home in Niles, IL

Busy? Have us call you back. Call Me Back

More Information

Understanding the Niles, IL Housing Landscape

Ready to lay down some roots and buy a house in Niles? Congratulations! You've chosen an energetic city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers across the country and have the inside scoop on Niles's housing scene.

Niles is growing by the day, which means Niles homes don't always come cheap. Continued cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Niles area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Niles and its nearby areas still offer a variety of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When buying a home in Niles, consider the home's location in relation to your everyday activities. If possible, test drive your trip from the house 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 Niles will also help you get a feel for how homes in east Niles differ from west Niles, what the communities are like, and where to find Niles's coolest attractions.

Are you financially prepared to buy a house in Niles? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 Niles. We serve 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 Niles.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Niles. Then, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Searching the web for Niles averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, consider how much you can contribute to a down payment. Placing a minimum of 20% down can increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, 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 helps you know how much you might be eligible to borrow from a lender. Also, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Niles, IL

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Niles. Contact Mr. Cooper as you prepare to buy a house in Niles. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

Niles, IL Mr. Cooper Customer Reviews

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

Make buying or selling a Niles home easier.

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