What to Know Before Buying a Home in Jackson, MI

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Get Familiar with the Lay of the Land in Jackson, MI

Ready to lay down some roots and buy a house in Jackson? Smart move! You've chosen a vibrant 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 serve 3.8 million customers from coast to coast and have the inside scoop on Jackson's housing scene.

Jackson is growing by the day, which means Jackson homes don't always come cheap. Ongoing support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Jackson area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Jackson and its nearby areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream house! When looking to buy a house in Jackson, double check that you're factoring in the home's distance from your daily activities. If you can, 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. Discovering different parts of Jackson will help you see how the northern part differs from the southern part, what the communities are like, and where to find Jackson's coolest attractions.

Are you financially prepared to buy a house in Jackson? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You could choose to buy a home in Michigan or elsewhere. We support first-time homeowners and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Jackson.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Jackson house hunt. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Jackson will usually point you in the right direction. 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 improve 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. 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, take a good look at your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

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

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Jackson. Contact Mr. Cooper as you prepare to buy a house in Jackson. We're here to help you along 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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