The Process of Buying a Home in Lakeland South, WA

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Understanding the Lakeland South, WA Housing Landscape

Strongly considering a home purchase in Lakeland South? Congratulations! You've chosen a lively city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers nationwide and are familiar with the ins-and-outs of the Lakeland South housing market.

Lakeland South'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 beckon retirees, new businesses, and young families to the Lakeland South area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Lakeland South and its nearby areas still offer a variety of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your perfect home! When looking to buy a house in Lakeland South, 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. The location of your house will impact virtually every part of your life. Exploring Lakeland South will also help you get a feel for how homes in east Lakeland South differ from west Lakeland South, what the neighborhoods are like, and where to find Lakeland South's hottest attractions.

Are your finances in the right place to buy a home in Lakeland South? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Lakeland South. We work with experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Lakeland South.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Lakeland South house hunt. After that, 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 Lakeland South 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.

Then, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, consider your credit profile. Credit history is an important part of 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 Lakeland South, WA

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Lakeland South, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Lakeland South. We're here to help you along 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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