The Process of Buying a Home in West Lafayette, IN

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Understanding the West Lafayette, IN Housing Landscape

Strongly considering a home purchase in West Lafayette? Great idea! You've chosen a vibrant city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the West Lafayette housing market.

West Lafayette is growing by the day, which means West Lafayette homes don't always come cheap. Ongoing cultural expansion and economic growth have helped to beckon young families, new businesses, and retirees to the West Lafayette area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, West Lafayette and its neighboring areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (ideally) your perfect home! When looking to buy a house in West Lafayette, 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. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring West Lafayette will also help you get a feel for how homes in east West Lafayette differ from west West Lafayette, where to find West Lafayette's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in West Lafayette? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in West Lafayette. We help experienced homeowners and first-time homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in West Lafayette.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in West Lafayette. Then, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for West Lafayette averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, consider how much you can contribute to a down payment. A down payment of at least 20% can help improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, 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 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. 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 West Lafayette, IN

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like West Lafayette. Contact Mr. Cooper as you look to buy a home in West Lafayette. 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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Simplify the home buying or selling process in West Lafayette with Mr. Cooper.

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