What to Know Before Buying a Home in Felton, DE

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Understanding the Felton, DE Housing Landscape

Strongly considering a home purchase in Felton? Great idea! You selected a colorful city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers from coast to coast and have the inside scoop on Felton's housing scene.

Felton is growing by the day, which means Felton homes don't always come cheap. Continued cultural expansion and economic growth have helped to entice young families, new businesses, and retirees to the Felton area, but so much change also means more traffic, more competition, and a need for more schools. That said, Felton and its neighboring areas still offer a wide range of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When buying a house in Felton, consider the home's location in relation to your everyday activities. If possible, 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 Felton will also give you an idea of why homes in west Felton are priced differently than homes in east Felton, where to find Felton's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Felton, 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 every stage of the journey more enjoyable and less worrisome. It doesn't matter whether you want to buy a home in Delaware or somewhere else entirely. We work with first-time homeowners and experienced homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Felton.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Felton. Next, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Searching the web for Felton 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.

Now, figure out what a realistic down payment would be for you. Putting at least 20% down will improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, 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, 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!

Move Up and Out: Buying Your Dream House in Felton, DE

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 Felton. Contact Mr. Cooper as you look to buy a home in Felton. 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.*

Mr. Cooper Customer Reviews for Felton, DE

Take it from these Mr. Cooper home buyers and sellers in Felton, DE: We love helping homeowners. Call now to see how we can serve you.

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