The Process of Buying a Home in Lebanon, OR

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Understanding the Lebanon, OR Housing Landscape

Strongly considering a home purchase in Lebanon? Congratulations! You selected a vibrant city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers from coast to coast and know the Lebanon housing market well.

Given all of Oregon's growth, Lebanon homes aren't always easy to find at a comfortable price. Sustained economic growth and cultural expansion have helped to entice retirees, new businesses, and young families to the Lebanon area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Lebanon and its nearby areas still offer an array of homes in price and amenities. You can find single-family homes, condos, townhomes, and (ideally) your dream home! When buying a home in Lebanon, consider the home's location in relation to your everyday activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Discovering different parts of Lebanon will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Lebanon's hottest attractions.

You're ready to buy a house in Lebanon, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. 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 Oregon or elsewhere. We help new and experienced homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Lebanon.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Lebanon. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Lebanon 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.

Now, consider how much you can contribute to a down payment. Placing a minimum of 20% down can improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

It's Go Time! Buy a House in Lebanon, OR

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 Lebanon. Contact Mr. Cooper as you look to buy a home in Lebanon. 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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