What to Know Before Buying a Home in Bellingham, MA

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Understanding the Bellingham, MA Housing Landscape

Strongly considering a home purchase in Bellingham? Awesome! You picked a vibrant city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers nationwide and are familiar with the ins-and-outs of the Bellingham housing market.

Given all of Massachusetts's growth, Bellingham homes aren't always easy to find at a comfortable price. Ongoing cultural expansion and economic growth have helped to entice retirees, new businesses, and young families to the Bellingham area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Bellingham and its neighboring areas still offer an array of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When looking to buy a house in Bellingham, consider how near or far away the home is from the places you visit most. If possible, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Discovering different parts of Bellingham will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Bellingham's hottest attractions.

Are you financially prepared to buy a house in Bellingham? 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 Massachusetts or somewhere else entirely. We support experienced homeowners and first-time homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Bellingham.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Bellingham. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Searching the web for Bellingham 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. Placing a minimum of 20% down can increase 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. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check 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 more options are always good!

Move Up and Out: Buying Your Dream House in Bellingham, MA

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 when you get to live in a stellar city like Bellingham, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Bellingham. We're here for you every step of 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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