Understanding the Parkland, WA Housing Landscape
Thinking about buying a home in Parkland? Great idea! You've chosen a lively city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers across the country and are familiar with the ins-and-outs of the Parkland housing market.
Parkland is growing by the day, which means Parkland homes don't always come cheap. Ongoing cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Parkland area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Parkland and its neighboring areas still offer a wide range of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When buying a house in Parkland, consider how near or far away the home is from the places you visit most. 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. Exploring Parkland will also help you get a feel for how homes in east Parkland differ from west Parkland, what the communities are like, and where to find Parkland's coolest attractions.
Are your finances in the right place to buy a home in Parkland? 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 the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Parkland. We serve new and experienced 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 Parkland.
First, estimate how much house you could buy. This will help you set a price range while house shopping in Parkland. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Parkland will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.
Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. This is where getting pre-approved for a mortgage comes in handy. Getting pre-approved helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. 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 options are always a good thing!
It's Go Time! Buy a House in Parkland, WA
While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Parkland. Contact Mr. Cooper as you get ready to buy a house in Parkland.