What to Know Before Buying a Home in Oconomowoc, WI

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Exploring Oconomowoc, WI From North to South

Strongly considering a home purchase in Oconomowoc? Congratulations! You've chosen an energetic city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers across the country and have the inside scoop on Oconomowoc's housing scene.

Given all of Wisconsin's growth, Oconomowoc homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Oconomowoc area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Oconomowoc and its neighboring areas still offer an array of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream house! When looking to buy a house in Oconomowoc, 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. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Oconomowoc will also give you an idea of why homes in west Oconomowoc are priced differently than homes in east Oconomowoc, where to find Oconomowoc's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Oconomowoc, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home 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 Oconomowoc. We support 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 Oconomowoc.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Oconomowoc house hunt. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in Oconomowoc 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. Placing a minimum of 20% down can boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check your credit. Lenders place a high importance on credit history when looking at 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?

Move Up and Out: Buying Your Dream House in Oconomowoc, WI

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 when you get to live in a stellar city like Oconomowoc, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Oconomowoc. We're here for you from start to finish 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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