What to Know Before Buying a Home in Omaha, NE

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Understanding the Omaha, NE Housing Landscape

Ready to lay down some roots and buy a house in Omaha? Great idea! You selected a lively 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 service 3.8 million customers from coast to coast and have the inside scoop on Omaha's housing scene.

Omaha'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 young families, new businesses, and retirees to the Omaha area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Omaha and the surrounding areas still offer an array of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream house! When buying a home in Omaha, consider the home's location in relation to your everyday activities. If you can, 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 Omaha will also give you an idea of why homes in west Omaha are priced differently than homes in east Omaha, what the neighborhoods are like, and where to find Omaha's hottest attractions.

You're ready to buy a house in Omaha, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and work to make the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Omaha. We work with experienced homeowners and first-time homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Omaha.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Omaha house hunt. Then, 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. While everyone's situation is different, an online search for Omaha 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, figure out what a realistic down payment would be for you. 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). That said, down payment requirements can differ depending on the loan type. 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, check 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 options are always a good thing!

It's Go Time! Buy a House in Omaha, 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 can also be incredibly rewarding, especially when you get to live in an amazing city like Omaha. Contact Mr. Cooper as you get ready to buy a house in Omaha. 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.*

Mr. Cooper Customer Reviews for Omaha, NE

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

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