All About Buying a House in Houma, LA

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Exploring Houma, LA From North to South

Ready to lay down some roots and buy a house in Houma? Awesome! You've chosen a colorful city with a great balance of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Houma housing market.

Houma'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 beckon young families, new businesses, and retirees to the Houma area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Houma and its neighboring areas still offer a variety of home types and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream home! When buying a home in Houma, consider the home's location in relation to your everyday activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Discovering different parts of Houma will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Houma's hottest attractions.

Are you financially prepared to buy a house in Houma? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and work to make the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Houma. We help new and experienced 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 Houma.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Houma. After that, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Searching the web for Houma averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, figure out what a realistic down payment would be for you. A down payment of at least 20% can help improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, 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, 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 options are always a good thing!

Make Your Move: Buy a Home in Houma, LA

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 Houma. Contact Mr. Cooper as you get ready to buy a house in Houma. 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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