All About Buying a House in Wilmette, IL

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Understanding the Wilmette, IL Housing Landscape

Thinking about buying a home in Wilmette? Great idea! You selected 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 from coast to coast and have the inside scoop on Wilmette's housing scene.

Wilmette's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Continued economic growth and cultural expansion have helped to beckon young families, new businesses, and retirees to the Wilmette area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Wilmette and its nearby areas still offer an array of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream house! When buying a home in Wilmette, consider the home's location in relation to your everyday activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Wilmette will also give you an idea of why homes in west Wilmette are priced differently than homes in east Wilmette, where to find Wilmette's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Wilmette, but is your bank account? 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 support experienced homeowners and first-time homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Wilmette.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Wilmette house hunt. Next, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Wilmette 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, look at how much money you can put toward a down payment. Putting at least 20% down will boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at your credit. Credit history is an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Wilmette, 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 Wilmette, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Wilmette. We're here to help you along 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.*

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