All About Buying a House in Lafayette, LA

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Exploring Lafayette, LA From North to South

Thinking about buying a home in Lafayette? Awesome! You picked a colorful 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 service 3.8 million customers across the country and have the inside scoop on Lafayette's housing scene.

Lafayette is growing by the day, which means Lafayette homes don't always come cheap. Sustained economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the Lafayette area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Lafayette and the surrounding areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream house! When buying a home in Lafayette, double check that you're factoring in the home's distance from your daily activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Traveling around Lafayette will also give you an idea of why homes in west Lafayette are priced differently than homes in east Lafayette, where to find Lafayette's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Lafayette, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive 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 Louisiana or somewhere else entirely. We serve new and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Lafayette.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Lafayette. After that, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. Searching the web for Lafayette averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your chances of getting a great 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. 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. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

It's Go Time! Buy a House in Lafayette, LA

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But when you get to live in a stellar city like Lafayette, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Lafayette. We're here for you every step of 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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