All About Buying a House in Georgetown, KY

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Understanding the Georgetown, KY Housing Landscape

Thinking about buying a home in Georgetown? Awesome! You've chosen a vibrant city with a great balance of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers across the country and know the Georgetown housing market well.

Georgetown is growing by the day, which means Georgetown homes don't always come cheap. Continued economic growth and cultural expansion have helped to beckon entrepreneurs, retirees, and new graduates to the Georgetown area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Georgetown and the surrounding areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a home in Georgetown, consider the home's location in relation to your everyday activities. If possible, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Georgetown will also give you an idea of why homes in west Georgetown are priced differently than homes in east Georgetown, what the neighborhoods are like, and where to find Georgetown's hottest attractions.

Are your finances in the right place to buy a home in Georgetown? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 Georgetown. We work with first-time homeowners 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 Georgetown.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Georgetown. After that, 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 Georgetown 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.

Next, look at how much money you can put toward a down payment. Putting at least 20% down will increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, consider your credit profile. Credit history is one of the main factors that lenders look at when considering 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 Georgetown, KY

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 Georgetown, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Georgetown. 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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