All About Buying a House in Lewes, DE

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Get Familiar with the Lay of the Land in Lewes, DE

Strongly considering a home purchase in Lewes? Awesome! You selected a colorful city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers across the country and know the Lewes housing market well.

Lewes is growing by the day, which means Lewes homes don't always come cheap. Sustained support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Lewes area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Lewes 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 perfect home! When buying a house in Lewes, double check that you're factoring in the home's distance from your daily activities. If possible, 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. Discovering different parts of Lewes will help you see how the northern part differs from the southern part, what the communities are like, and where to find Lewes's coolest attractions.

Are your finances in the right place to buy a home in Lewes? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home 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 Delaware or somewhere else entirely. We support experienced homeowners and first-time 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 Lewes.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Lewes house hunt. Next, map out 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 Lewes averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Now, 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 great rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. This is where getting prequalified for a mortgage comes in handy. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, consider your credit profile. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and who doesn't want more choices in life?

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

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 Lewes, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Lewes. We're here to help you along 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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