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What to Know Before Buying a Home in Fairwood, WA

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Exploring Fairwood, WA From North to South

Strongly considering a home purchase in Fairwood? Smart move! You've chosen a lively city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers from coast to coast and have the inside scoop on Fairwood's housing scene.

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

You're ready to buy a house in Fairwood, 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 every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Washington or elsewhere. We work with first-time homeowners 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 Fairwood.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Fairwood. Then, 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 Fairwood 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, look at how much money you can put toward a down payment. A down payment of at least 20% can help boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, the required down payment will depend on the type of loan you get. Here's where it can help to get prequalified for a mortgage. 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 who doesn't want more choices in life?

Make Your Move: Buy a Home in Fairwood, WA

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 Fairwood. Contact Mr. Cooper as you look to buy a home in Fairwood. 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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Buying or selling a house in Fairwood? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.