What to Know Before Buying a Home in Orland Park, IL

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Exploring Orland Park, IL From North to South

Thinking about buying a home in Orland Park? Awesome! You've chosen an energetic city with an ideal amount of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers across the country and are familiar with the ins-and-outs of the Orland Park housing market.

Orland Park is growing by the day, which means Orland Park homes don't always come cheap. Continued support for local businesses and cultural growth have helped to beckon young families, new businesses, and retirees to the Orland Park area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Orland Park and its nearby areas still offer a variety of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream home! When buying a house in Orland Park, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Orland Park will also give you an idea of why homes in west Orland Park are priced differently than homes in east Orland Park, what the neighborhoods are like, and where to find Orland Park's hottest attractions.

Are your finances in the right place to buy a home in Orland Park? 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 every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Illinois or elsewhere. We serve first-time homeowners 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 Orland Park.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Orland Park house hunt. Next, 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 Orland Park 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.

Now, look at how much money you can put toward 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). That said, the required down payment will depend on the type of loan you get. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check your credit. Lenders place a high importance on credit history when looking at 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 Orland Park, 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 Orland Park. Contact Mr. Cooper as you look to buy a home in Orland Park. 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.*

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