The Process of Buying a Home in Waterbury, CT

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Understanding the Waterbury, CT Housing Landscape

Strongly considering a home purchase in Waterbury? Great idea! You've chosen a vibrant city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers across the country and are familiar with the ins-and-outs of the Waterbury housing market.

Given all of Connecticut's growth, Waterbury homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to beckon retirees, new businesses, and young families to the Waterbury area, but so much change also means more traffic, more competition, and a need for more schools. That said, Waterbury and its nearby areas still offer an array of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream house! When buying a house in Waterbury, consider how near or far away the home is from the places you visit most. If you can, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Waterbury will also give you an idea of why homes in west Waterbury are priced differently than homes in east Waterbury, what the communities are like, and where to find Waterbury's coolest attractions.

Are your finances in the right place to buy a home in Waterbury? 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 don't even have to stick with your decision to buy a house in Waterbury. We serve new and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Waterbury.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Waterbury. 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. While everyone's situation is different, an online search for Waterbury averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, figure out what a realistic down payment would be for you. A down payment of at least 20% can help improve your odds of getting a good 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. Here's where it can help to get prequalified for a mortgage. 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 an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

Make Your Move: Buy a Home in Waterbury, CT

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Waterbury, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Waterbury. 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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