What to Know Before Buying a Home in Independence, KY

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Understanding the Independence, KY Housing Landscape

Ready to lay down some roots and buy a house in Independence? Smart move! You picked a lively city with an ideal amount of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers across the country and are familiar with the ins-and-outs of the Independence housing market.

Independence'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 support for local businesses and cultural growth have helped to attract retirees, new businesses, and young families to the Independence area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Independence and the surrounding areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream home! When buying a house in Independence, 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 home's location will influence almost every aspect of your life. Exploring Independence will also help you get a feel for how homes in east Independence differ from west Independence, where to find Independence's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Independence, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. 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 Kentucky or somewhere else entirely. We work with experienced homeowners and first-time homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Independence.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Independence. Then, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Independence averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, 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. This is where getting prequalified for a mortgage comes in handy. 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 an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

Make Your Move: Buy a Home in Independence, 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 Independence. Contact Mr. Cooper as you get ready to buy a house in Independence. We're here for you from start to finish 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 Independence, KY

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