What to Know Before Buying a Home in Grand Island, NE

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Get Familiar with the Lay of the Land in Grand Island, NE

Strongly considering a home purchase in Grand Island? Great idea! You selected an energetic city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers from coast to coast and know the Grand Island housing market well.

Grand Island is growing by the day, which means Grand Island homes don't always come cheap. Sustained cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Grand Island area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Grand Island and its nearby areas still offer an array of home styles and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream house! When looking to buy a house in Grand Island, consider how near or far away the home is from the places you visit most. If possible, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Grand Island will also give you an idea of why homes in west Grand Island are priced differently than homes in east Grand Island, what the communities are like, and where to find Grand Island's coolest attractions.

Are you financially prepared to buy a house in Grand Island? 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. It doesn't matter whether you want to buy a home in Nebraska or somewhere else entirely. We serve new 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 Grand Island.

First, calculate how much house you can afford. This will help determine the price range for your Grand Island house hunt. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Grand Island averages will usually give you some solid estimates. 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. A down payment of at least 20% can help improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. Here's where it can help to get prequalified for a mortgage. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Grand Island, NE

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Grand Island. Contact Mr. Cooper as you get ready to buy a house in Grand Island. We're here for you every step of 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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