The Process of Buying a Home in Streamwood, IL

Busy? Have us call you back. Call Me Back

More Information

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

Thinking about buying a home in Streamwood? Smart move! You picked a colorful 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 nationwide and know the Streamwood housing market well.

Given all of Illinois's growth, Streamwood 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 Streamwood area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Streamwood and the surrounding areas still offer a variety of home styles and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream house! When buying a house in Streamwood, consider the home's location in relation to your everyday activities. If you can, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Exploring Streamwood will also help you get a feel for how homes in east Streamwood differ from west Streamwood, where to find Streamwood's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Streamwood, but is your bank account? 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. It doesn't matter whether you want to buy a home in Illinois or somewhere else entirely. We serve experienced homeowners and first-time 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 Streamwood.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Streamwood house hunt. After that, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. Searching the web for Streamwood averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, look at how much money you can put toward a down payment. Putting at least 20% down will improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. 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, 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 options are always a good thing!

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

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Streamwood, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Streamwood. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

Streamwood, IL Mr. Cooper Customer Reviews

Read actual reviews from actual Mr. Cooper customers in Streamwood, IL. Then call us to see how we can help you.

Make buying or selling a Streamwood home easier.

Work with Mr. Cooper and get the support you need to make the home buying or selling process smoother.