What to Know Before Buying a Home in Burlington, IA

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Get Familiar with the Lay of the Land in Burlington, IA

Strongly considering a home purchase in Burlington? Awesome! You've chosen a vibrant city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers from coast to coast and know the Burlington housing market well.

Given all of Iowa's growth, Burlington homes aren't always easy to find at a comfortable price. Continued cultural expansion and economic growth have helped to beckon retirees, new businesses, and young families to the Burlington area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Burlington and the surrounding areas still offer a wide range of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream home! When looking to buy a house in Burlington, consider the home's location in relation to your everyday activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Burlington will also give you an idea of why homes in west Burlington are priced differently than homes in east Burlington, what the neighborhoods are like, and where to find Burlington's hottest attractions.

Are your finances in the right place to buy a home in Burlington? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and work to make every stage of the journey more enjoyable and less worrisome. It doesn't matter whether you want to buy a home in Iowa or somewhere else entirely. We support new and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Burlington.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Burlington 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. Everyone's situation will differ, but a quick online search for average expenses in Burlington will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, look at how much money you can put toward a down payment. A down payment of at least 20% can help boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. 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, consider your credit profile. 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 who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Burlington, IA

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Burlington. Contact Mr. Cooper as you get ready to buy a house in Burlington. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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