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What to Know Before Buying a Home in Newburyport, MA

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Exploring Newburyport, MA From North to South

Strongly considering a home purchase in Newburyport? Congratulations! You selected a vibrant city with a great balance of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers across the country and have the inside scoop on Newburyport's housing scene.

Newburyport is growing by the day, which means Newburyport homes don't always come cheap. Ongoing economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Newburyport area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Newburyport and the surrounding areas still offer a variety of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When buying a home in Newburyport, 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. Your home's location will influence almost every aspect of your life. Traveling around Newburyport will also give you an idea of why homes in west Newburyport are priced differently than homes in east Newburyport, what the neighborhoods are like, and where to find Newburyport's hottest attractions.

Are your finances in the right place to buy a home in Newburyport? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 Massachusetts or somewhere else entirely. We work with new 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 Newburyport.

First, estimate how much house you can afford. This will help determine the price range for your Newburyport house hunt. Then, jot down 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 Newburyport will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, consider how much you can contribute to a down payment. Putting at least 20% down will boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, 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, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

It's Go Time! Buy a House in Newburyport, MA

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Newburyport. Contact Mr. Cooper as you look to buy a home in Newburyport. We're here to help you along the way 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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