What to Know Before Buying a Home in East Lansing, MI

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Exploring East Lansing, MI From North to South

Ready to lay down some roots and buy a house in East Lansing? Smart move! You've chosen a lively 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 service 3.8 million customers from coast to coast and know the East Lansing housing market well.

East Lansing is growing by the day, which means East Lansing homes don't always come cheap. Sustained economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the East Lansing area, but so much change also means more traffic, more competition, and a need for more schools. Even so, East Lansing and its nearby areas still offer a variety of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your perfect home! When buying a house in East Lansing, consider the home's location in relation to your everyday activities. If possible, test drive your trip from the house 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 East Lansing will also give you an idea of why homes in west East Lansing are priced differently than homes in east East Lansing, what the neighborhoods are like, and where to find East Lansing's hottest attractions.

Are you financially prepared to buy a house in East Lansing? 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 the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in Michigan or somewhere else entirely. We work with 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 East Lansing.

Before anything else, calculate how much house you can afford. This will help determine the price range for your East Lansing house hunt. 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. Everyone's situation will differ, but a quick online search for average expenses in East Lansing will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, consider how much you can contribute to a down payment. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, the required down payment will depend on the type of loan you get. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified helps you know how much you might be eligible to borrow from a lender. 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 more options are always good!

Move Up and Out: Buying Your Dream House in East Lansing, MI

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like East Lansing, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in East Lansing. 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.*

East Lansing, MI Mr. Cooper Customer Reviews

Take it from these Mr. Cooper home buyers and sellers in East Lansing, MI: We love helping homeowners. Call now to see how we can serve you.

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