What to Know Before Buying a Home in Lakeway, TX

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

Ready to lay down some roots and buy a house in Lakeway? Congratulations! You've chosen a vibrant city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers nationwide and know the Lakeway housing market well.

Lakeway is growing by the day, which means Lakeway homes don't always come cheap. Continued support for local businesses and cultural growth have helped to attract young families, new businesses, and retirees to the Lakeway area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Lakeway and its nearby areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When buying a home in Lakeway, consider the home's location in relation to your everyday activities. 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. Discovering different parts of Lakeway will help you see how the northern part differs from the southern part, what the communities are like, and where to find Lakeway's coolest attractions.

Are you financially prepared to buy a house in Lakeway? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in Texas or somewhere else entirely. We serve experienced homeowners and first-time 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 Lakeway.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Lakeway. After that, add up the 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 Lakeway averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Getting prequalified helps you know how much you might be eligible to borrow from a lender. 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 who doesn't want more choices in life?

It's Go Time! Buy a House in Lakeway, TX

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 Lakeway. Contact Mr. Cooper as you get ready to buy a house in Lakeway. 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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