Get Familiar with the Lay of the Land in Racine, WI
Ready to lay down some roots and buy a house in Racine? Smart move! You selected a lively city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers nationwide and have the inside scoop on Racine's housing scene.
Racine is growing by the day, which means Racine homes don't always come cheap. Continued cultural expansion and economic growth have helped to beckon young families, new businesses, and retirees to the Racine area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Racine and its nearby areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream house! When buying a home in Racine, double check that you're factoring in the home's distance from your daily activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Discovering different parts of Racine will help you see how the northern part differs from the southern part, where to find Racine's most popular attractions, and what the neighborhoods are like.
Are your finances in the right place to buy a home in Racine? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Racine. We support 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 Racine.
Before anything else, calculate how much house you can afford. This will help determine the price range for your Racine house hunt. Next, 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 Racine will usually point you in the right direction. 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. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!
Make Your Move: Buy a Home in Racine, WI
Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Racine. Contact Mr. Cooper as you look to buy a home in Racine. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.