What to Know Before Buying a Home in Ellington, CT

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Exploring Ellington, CT From North to South

Thinking about buying a home in Ellington? Smart move! You picked 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 from coast to coast and have the inside scoop on Ellington's housing scene.

Given all of Connecticut's growth, Ellington homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to beckon entrepreneurs, retirees, and new graduates to the Ellington area, but so much change also means more traffic, more competition, and a need for more schools. That said, Ellington and the surrounding areas still offer an array of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your perfect home! When buying a house in Ellington, consider the home's location in relation to your everyday activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Discovering different parts of Ellington will help you see how the northern part differs from the southern part, where to find Ellington's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Ellington? 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 every stage of the journey more enjoyable and less worrisome. It doesn't matter whether you want to buy a home in Connecticut or somewhere else entirely. We work with first-time homeowners and experienced homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Ellington.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Ellington. 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. While everyone's situation is different, an online search for Ellington averages will usually give you some solid estimates. 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 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 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 more options are always good!

Make Your Move: Buy a Home in Ellington, CT

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 Ellington. Contact Mr. Cooper as you prepare to buy a house in Ellington. 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.*

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