What to Know Before Buying a Home in Northampton, MA

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Get Familiar with the Lay of the Land in Northampton, MA

Strongly considering a home purchase in Northampton? Great idea! You picked a colorful city with an ideal amount of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers nationwide and are familiar with the ins-and-outs of the Northampton housing market.

Northampton'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 economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Northampton area, but so much change also means more traffic, more competition, and a need for more schools. That said, Northampton and the surrounding areas still offer a variety of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When buying a home in Northampton, consider the home's location in relation to your everyday activities. If you can, test drive your route to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Northampton will also help you get a feel for how homes in east Northampton differ from west Northampton, what the neighborhoods are like, and where to find Northampton's hottest attractions.

Are you financially prepared to buy a house in Northampton? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Massachusetts or somewhere else entirely. We help 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 Northampton.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Northampton. After that, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Northampton will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, 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, down payment requirements can differ depending on the loan type. 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, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Northampton, 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 Northampton. Contact Mr. Cooper as you prepare to buy a house in Northampton. 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.*

Mr. Cooper Customer Reviews for Northampton, MA

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