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What to Know Before Buying a Home in University Place, WA

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Understanding the University Place, WA Housing Landscape

Thinking about buying a home in University Place? Congratulations! You've chosen an energetic city with a dynamic selection of educational opportunities, businesses, 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 University Place housing market.

University Place'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. Ongoing cultural expansion and economic growth have helped to entice retirees, new businesses, and young families to the University Place area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, University Place and the surrounding areas still offer a variety of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream house! When looking to buy a house in University Place, consider the home's location in relation to your everyday activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring University Place will also help you get a feel for how homes in east University Place differ from west University Place, what the neighborhoods are like, and where to find University Place's hottest attractions.

Are you financially prepared to buy a house in University Place? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. 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 University Place. We help experienced homeowners and first-time 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 University Place.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in University Place. Then, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Searching the web for University Place 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.

Then, consider how much you can contribute to a down payment. 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). Even so, down payment requirements can differ depending on the loan type. 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, consider your credit profile. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and who doesn't want more choices in life?

Make Your Move: Buy a Home in University Place, 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 University Place. Contact Mr. Cooper as you prepare to buy a house in University Place. We're here for you from start to finish 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.*

Mr. Cooper Customer Reviews for University Place, WA

Read real stories from real Mr. Cooper home buyers and sellers in University Place, WA. Then contact us to see what we can do for you.

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