All About Buying a House in Bloomfield, CT

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Understanding the Bloomfield, CT Housing Landscape

Thinking about buying a home in Bloomfield? Great idea! You've chosen a vibrant city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Bloomfield housing market.

Given all of Connecticut's growth, Bloomfield 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 Bloomfield area, but so much change also means more traffic, more competition, and a need for more schools. That said, Bloomfield and the surrounding areas still offer a wide range of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream home! When buying a home in Bloomfield, 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. The location of your house will impact virtually every part of your life. Traveling around Bloomfield will also give you an idea of why homes in west Bloomfield are priced differently than homes in east Bloomfield, what the communities are like, and where to find Bloomfield's coolest attractions.

Are you financially prepared to buy a house in Bloomfield? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Connecticut or elsewhere. We help 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 Bloomfield.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Bloomfield. Then, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Bloomfield will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, consider how much you can contribute to a down payment. Placing a minimum of 20% down can boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, consider your credit profile. 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 more options are always good!

Make Your Move: Buy a Home in Bloomfield, CT

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Bloomfield. Contact Mr. Cooper as you look to buy a home in Bloomfield. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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