All About Buying a House in Guilford, CT

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Understanding the Guilford, CT Housing Landscape

Ready to lay down some roots and buy a house in Guilford? Congratulations! You picked a colorful 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 are familiar with the ins-and-outs of the Guilford housing market.

Guilford is growing by the day, which means Guilford homes don't always come cheap. Continued support for local businesses and cultural growth have helped to attract retirees, new businesses, and young families to the Guilford area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Guilford and the surrounding areas still offer a wide range of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream house! When buying a home in Guilford, consider the home's location in relation to your everyday activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Guilford will also give you an idea of why homes in west Guilford are priced differently than homes in east Guilford, where to find Guilford's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Guilford, but is your bank account? 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 the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in Connecticut or somewhere else entirely. We support first-time homeowners and experienced homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Guilford.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Guilford. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Guilford averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, look at how much money you can put toward a down payment. A down payment of at least 20% can help improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. 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. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

It's Go Time! Buy a House in Guilford, CT

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Guilford, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Guilford. 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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