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What to Know Before Buying a Home in Saugus, MA

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

Ready to lay down some roots and buy a house in Saugus? Great idea! You selected a vibrant city with a great balance of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers across the country and know the Saugus housing market well.

Given all of Massachusetts's growth, Saugus homes aren't always easy to find at a comfortable price. Continued economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the Saugus area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Saugus and the surrounding areas still offer a wide range of homes in price and amenities. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When buying a home in Saugus, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Saugus will also give you an idea of why homes in west Saugus are priced differently than homes in east Saugus, what the communities are like, and where to find Saugus's coolest attractions.

Are your finances in the right place to buy a home in Saugus? 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. You don't even have to stick with your decision to buy a house in Saugus. We help experienced homeowners and first-time homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Saugus.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Saugus. Next, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Saugus averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can boost 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. Getting prequalified helps you know how much you might be eligible to borrow from a lender. 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. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

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

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Saugus. Contact Mr. Cooper as you get ready to buy a house in Saugus. 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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