What to Know Before Buying a Home in Middletown, CT

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

Ready to lay down some roots and buy a house in Middletown? Great idea! You've chosen a colorful city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers across the country and are familiar with the ins-and-outs of the Middletown housing market.

Middletown'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 beckon entrepreneurs, retirees, and new graduates to the Middletown area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Middletown and its neighboring areas still offer a wide range of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream house! When buying a home in Middletown, consider how near or far away the home is from the places you visit most. If possible, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Discovering different parts of Middletown will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Middletown's hottest attractions.

You're ready to buy a house in Middletown, but is your bank account? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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. You could choose to buy a home in Connecticut or elsewhere. We serve experienced homeowners and first-time homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Middletown.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Middletown. Then, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Middletown averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Now, figure out what a realistic down payment would be for you. A down payment of at least 20% can help increase your odds of getting a good 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 will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

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

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Middletown. Contact Mr. Cooper as you get ready to buy a house in Middletown. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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