Get Familiar with the Lay of the Land in Tacoma, WA
Ready to lay down some roots and buy a house in Tacoma? Congratulations! You selected a lively city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Tacoma housing market.
Given all of Washington's growth, Tacoma homes aren't always easy to find at a comfortable price. Sustained economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the Tacoma area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Tacoma and its neighboring areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream house! When buying a house in Tacoma, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Tacoma will help you see how the northern part differs from the southern part, where to find Tacoma's most popular attractions, and what the neighborhoods are like.
You're ready to buy a house in Tacoma, 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 try our best to make the journey easier and more rewarding. You could choose to buy a home in Washington or elsewhere. We help experienced homeowners and first-time 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 Tacoma.
First, estimate how much house you could buy. This will help you set a price range while house shopping in Tacoma. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Tacoma 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.
Now, consider how much you can contribute to a down payment. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. At this stage, getting pre-approved for a loan can be extremely helpful. Pre-approval points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!
Move Up and Out: Buying Your Dream House in Tacoma, 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 Tacoma, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Tacoma.