What to Know Before Buying a Home in Waterville, ME

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Get Familiar with the Lay of the Land in Waterville, ME

Ready to lay down some roots and buy a house in Waterville? Congratulations! You selected a lively city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers across the country and have the inside scoop on Waterville's housing scene.

Waterville'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. Continued cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Waterville area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Waterville and the surrounding areas still offer a variety of homes in price and amenities. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When buying a home in Waterville, double check that you're factoring in the home's distance from your daily activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Exploring Waterville will also help you get a feel for how homes in east Waterville differ from west Waterville, what the communities are like, and where to find Waterville's coolest attractions.

You're ready to buy a house in Waterville, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Waterville. We serve experienced homeowners and first-time homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Waterville.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Waterville. Next, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Waterville will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, figure out what a realistic down payment would be for you. 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 required down payment will depend on the type of loan you get. This is where getting prequalified for a mortgage comes in handy. 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. You may be presented with more mortgage options if you have healthy credit— and who doesn't want more choices in life?

Make Your Move: Buy a Home in Waterville, ME

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Waterville. Contact Mr. Cooper as you prepare to buy a house in Waterville. We're here for you every step of 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.*

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