What to Know Before Buying a Home in Shreveport, LA

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Get Familiar with the Lay of the Land in Shreveport, LA

Thinking about buying a home in Shreveport? Great idea! You've chosen a colorful city with a dynamic selection 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 across the country and are familiar with the ins-and-outs of the Shreveport housing market.

Shreveport is growing by the day, which means Shreveport homes don't always come cheap. Ongoing cultural expansion and economic growth have helped to beckon retirees, new businesses, and young families to the Shreveport area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Shreveport and its nearby areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream house! When buying a house in Shreveport, double check that you're factoring in the home's distance from your daily activities. If possible, 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. Discovering different parts of Shreveport will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Shreveport's hottest attractions.

Are you financially prepared to buy a house in Shreveport? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Louisiana or elsewhere. We serve 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 Shreveport.

First, estimate how much house you can afford. This will help determine the price range for your Shreveport house hunt. After that, map out your 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 Shreveport averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Now, look at how much money you can put toward a down payment. Placing a minimum of 20% down can boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, consider your credit profile. 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 who doesn't want more choices in life?

It's Go Time! Buy a House in Shreveport, 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 moving can also be incredibly rewarding, especially when you get to live in an amazing city like Shreveport. Contact Mr. Cooper as you look to buy a home in Shreveport. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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