What to Know Before Buying a Home in Hockley, TX

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Get Familiar with the Lay of the Land in Hockley, TX

Strongly considering a home purchase in Hockley? Awesome! You selected a colorful city with an ideal amount of educational opportunities, businesses, 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 Hockley housing market well.

Hockley is growing by the day, which means Hockley homes don't always come cheap. Continued cultural expansion and economic growth have helped to attract entrepreneurs, retirees, and new graduates to the Hockley area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Hockley and the surrounding areas still offer an array of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When buying a home in Hockley, 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 house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Hockley will also give you an idea of why homes in west Hockley are priced differently than homes in east Hockley, where to find Hockley's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Hockley? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive 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 Texas or somewhere else entirely. We help new and experienced 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 Hockley.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Hockley. After that, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in Hockley will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, look at how much money you can put toward a down payment. Putting at least 20% down will improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. 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. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Hockley, TX

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Hockley. Contact Mr. Cooper as you look to buy a home in Hockley. We're here for you from start to finish 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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