Understanding the Kent, WA Housing Landscape
Thinking about buying a home in Kent? Congratulations! You selected a colorful city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers nationwide and have the inside scoop on Kent's housing scene.
Kent'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. Sustained economic growth and cultural expansion have helped to entice retirees, new businesses, and young families to the Kent area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Kent and the surrounding areas still offer an array of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a home in Kent, 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. The location of your house will impact virtually every part of your life. Exploring Kent will also help you get a feel for how homes in east Kent differ from west Kent, what the neighborhoods are like, and where to find Kent's hottest attractions.
Are you financially prepared to buy a house in Kent? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. 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. It doesn't matter whether you want to buy a home in Washington or somewhere else entirely. We support experienced homeowners and first-time homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Kent.
First, estimate how much house you could buy. This will help you narrow your search when house hunting in Kent. After that, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Kent 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.
Next, figure out what a realistic down payment would be for you. A down payment of at least 20% can help 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. Here's where it can help to get pre-approved for a mortgage. Getting pre-approved will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!
Make Your Move: Buy a Home in Kent, WA
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 when you get to live in a stellar city like Kent, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Kent.