The Process of Buying a Home in Fairfield, CT

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Get Familiar with the Lay of the Land in Fairfield, CT

Thinking about buying a home in Fairfield? Awesome! You selected a colorful city with an ideal amount of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers nationwide and have the inside scoop on Fairfield's housing scene.

Fairfield'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 entrepreneurs, retirees, and new graduates to the Fairfield area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Fairfield and the surrounding areas still offer an array of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When buying a house in Fairfield, 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. The location of your house will impact virtually every part of your life. Traveling around Fairfield will also give you an idea of why homes in west Fairfield are priced differently than homes in east Fairfield, where to find Fairfield's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Fairfield? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Connecticut or elsewhere. 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 Fairfield.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Fairfield house hunt. After that, 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 Fairfield 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.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. This is where getting prequalified for a mortgage comes in handy. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at 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 options are always a good thing!

Make Your Move: Buy a Home in Fairfield, 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 Fairfield. Contact Mr. Cooper as you look to buy a home in Fairfield. 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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