What to Know Before Buying a Home in Frankfort, KY

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Exploring Frankfort, KY From North to South

Strongly considering a home purchase in Frankfort? Smart move! You've chosen a vibrant city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers from coast to coast and know the Frankfort housing market well.

Frankfort'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. Sustained cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Frankfort area, but so much change also means more traffic, more competition, and a need for more schools. That said, Frankfort and its neighboring areas still offer a variety of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream home! When looking to buy a house in Frankfort, 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 Frankfort will also give you an idea of why homes in west Frankfort are priced differently than homes in east Frankfort, what the neighborhoods are like, and where to find Frankfort's hottest attractions.

Are your finances in the right place to buy a home in Frankfort? 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 work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Kentucky or elsewhere. We support new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Frankfort.

First, estimate how much house you can afford. This will help determine the price range for your Frankfort house hunt. Then, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Searching the web for Frankfort averages will usually give you a solid estimate, though everyone's situation is different. 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 improve 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. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, check your credit. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

Move Up and Out: Buying Your Dream House in Frankfort, KY

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 Frankfort. Contact Mr. Cooper as you get ready to buy a house in Frankfort. We're here for you every step of 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.*

Mr. Cooper Customer Reviews for Frankfort, KY

Read real stories from real Mr. Cooper home buyers and sellers in Frankfort, KY. Then contact us to see what we can do for you.

Buying or selling a house in Frankfort? 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.