What to Know Before Buying a Home in Lawrence, KS

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Get Familiar with the Lay of the Land in Lawrence, KS

Strongly considering a home purchase in Lawrence? Smart move! You picked a vibrant 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 support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Lawrence housing market.

Given all of Kansas's growth, Lawrence homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Lawrence area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Lawrence and the surrounding areas still offer a variety of homes in price and amenities. You can find single-family homes, condos, townhomes, and (hopefully) your dream house! When looking to buy a house in Lawrence, 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 house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Lawrence will help you see how the northern part differs from the southern part, what the communities are like, and where to find Lawrence's coolest attractions.

You're ready to buy a house in Lawrence, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Kansas or somewhere else entirely. We serve 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 Lawrence.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Lawrence. After that, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Searching the web for Lawrence averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can increase 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. At this stage, getting prequalified for a loan can be extremely helpful. 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. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

Make Your Move: Buy a Home in Lawrence, KS

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 Lawrence, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Lawrence. We're here to help you along the way 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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Buying or selling a house in Lawrence? Mr. Cooper makes it easier.

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