The Process of Buying a Home in Lincoln, NE

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Understanding the Lincoln, NE Housing Landscape

Strongly considering a home purchase in Lincoln? Smart move! 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 service 3.8 million customers nationwide and are familiar with the ins-and-outs of the Lincoln housing market.

Lincoln's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Continued economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Lincoln area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Lincoln and the surrounding areas still offer a wide range of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When buying a home in Lincoln, consider how near or far away the home is from the places you visit most. If possible, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Exploring Lincoln will also help you get a feel for how homes in east Lincoln differ from west Lincoln, where to find Lincoln's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Lincoln? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade and try our best to make the journey easier and more rewarding. You could choose to buy a home in Nebraska or elsewhere. We help 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 Lincoln.

Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in Lincoln. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Searching the web for Lincoln averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your odds of getting a good 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. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check 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!

Make Your Move: Buy a Home in Lincoln, NE

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 feels more rewarding when you get to live in a place like Lincoln. Contact Mr. Cooper as you look to buy a home in Lincoln. 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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