What to Know Before Buying a Home in Oxford, MA

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

Strongly considering a home purchase in Oxford? Congratulations! You picked an energetic city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers from coast to coast and have the inside scoop on Oxford's housing scene.

Oxford'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. Ongoing cultural expansion and economic growth have helped to attract young families, new businesses, and retirees to the Oxford area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Oxford and the surrounding areas still offer an array of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream house! When buying a house in Oxford, consider the home's location in relation to your everyday activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Oxford will also give you an idea of why homes in west Oxford are priced differently than homes in east Oxford, where to find Oxford's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Oxford? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Oxford. We serve experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Oxford.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Oxford. Next, jot down 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 Oxford will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, look at how much money you can put toward a down payment. Placing a minimum of 20% down can improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. 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 options are always a good thing!

Move Up and Out: Buying Your Dream House in Oxford, 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 moving can also be incredibly rewarding, especially when you get to live in an amazing city like Oxford. Contact Mr. Cooper as you prepare to buy a house in Oxford. 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.*

Mr. Cooper Reviews from Real Customers in Oxford, MA

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