What to Know Before Buying a Home in Hopkinsville, KY

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Get Familiar with the Lay of the Land in Hopkinsville, KY

Strongly considering a home purchase in Hopkinsville? Congratulations! You've chosen an energetic 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 service 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Hopkinsville housing market.

Hopkinsville is growing by the day, which means Hopkinsville homes don't always come cheap. Ongoing support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Hopkinsville area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Hopkinsville and the surrounding areas still offer an array of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream house! When buying a home in Hopkinsville, double check that you're factoring in the home's distance from your daily 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. Traveling around Hopkinsville will also give you an idea of why homes in west Hopkinsville are priced differently than homes in east Hopkinsville, what the neighborhoods are like, and where to find Hopkinsville's hottest attractions.

Are your finances in the right place to buy a home in Hopkinsville? 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. It doesn't matter whether you want to buy a home in Kentucky or somewhere else entirely. We help experienced homeowners and first-time homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Hopkinsville.

First, calculate how much house you can afford. This will help determine the price range for your Hopkinsville house hunt. Then, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Hopkinsville 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.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, 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, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

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

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Hopkinsville. Contact Mr. Cooper as you look to buy a home in Hopkinsville. We're here to help you along the way 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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