What to Know Before Buying a Home in Simsbury, CT

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

Strongly considering a home purchase in Simsbury? Great idea! You picked a vibrant city with a great balance of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers nationwide and know the Simsbury housing market well.

Given all of Connecticut's growth, Simsbury homes aren't always easy to find at a comfortable price. Continued support for local businesses and cultural growth have helped to beckon young families, new businesses, and retirees to the Simsbury area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Simsbury and its neighboring areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When buying a home in Simsbury, 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 house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Simsbury will also give you an idea of why homes in west Simsbury are priced differently than homes in east Simsbury, what the neighborhoods are like, and where to find Simsbury's hottest attractions.

Are you financially prepared to buy a house in Simsbury? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. You could choose to buy a home in Connecticut or elsewhere. We work with 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 Simsbury.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Simsbury. After that, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. Searching the web for Simsbury 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.

Then, 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 required down payment will depend on the type of loan you get. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check 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 more options are always good!

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

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Simsbury. Contact Mr. Cooper as you prepare to buy a house in Simsbury. We're here for you from start to finish 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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