What to Know Before Buying a Home in Portage, IN

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Understanding the Portage, IN Housing Landscape

Ready to lay down some roots and buy a house in Portage? Smart move! You've chosen an energetic city with an ideal amount of educational opportunities, businesses, and parks, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers nationwide and know the Portage housing market well.

Portage is growing by the day, which means Portage homes don't always come cheap. Continued cultural expansion and economic growth have helped to attract young families, new businesses, and retirees to the Portage area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Portage and its nearby areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream house! When buying a home in Portage, consider how near or far away the home is from the places you visit most. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Exploring Portage will also help you get a feel for how homes in east Portage differ from west Portage, what the communities are like, and where to find Portage's coolest attractions.

Are you financially prepared to buy a house in Portage? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home 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 Portage. We support new and experienced homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Portage.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Portage house hunt. Then, 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 Portage 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. Placing a minimum of 20% down can improve 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. Here's where it can help to get prequalified for a mortgage. 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 better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

Make Your Move: Buy a Home in Portage, IN

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 can also be incredibly rewarding, especially when you get to live in an amazing city like Portage. Contact Mr. Cooper as you look to buy a home in Portage. We're here for you from start to finish 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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