What to Know Before Buying a Home in Renton, WA

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Understanding the Renton, WA Housing Landscape

Strongly considering a home purchase in Renton? Awesome! You selected a lively city with a great balance of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers from coast to coast and have the inside scoop on Renton's housing scene.

Renton is growing by the day, which means Renton homes don't always come cheap. Ongoing support for local businesses and cultural growth have helped to beckon young families, new businesses, and retirees to the Renton area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Renton and its neighboring areas still offer an array of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When looking to buy a house in Renton, double check that you're factoring in the home's distance from your daily 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. Exploring Renton will also help you get a feel for how homes in east Renton differ from west Renton, what the communities are like, and where to find Renton's coolest attractions.

You're ready to buy a house in Renton, 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 believe everyone can find their dream home 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 Renton. We help new and experienced homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Renton.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Renton house hunt. Next, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Searching the web for Renton 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. Placing a minimum of 20% down can 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 helps you know how much you might be eligible to borrow from a lender. 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?

It's Go Time! Buy a House in Renton, 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 moving can also be incredibly rewarding, especially when you get to live in an amazing city like Renton. Contact Mr. Cooper as you get ready to buy a house in Renton. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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