Get Familiar with the Lay of the Land in Westwood, MA
Thinking about buying a home in Westwood? Great idea! You've chosen 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 serve 3.8 million customers across the country and are familiar with the ins-and-outs of the Westwood housing market.
Westwood'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 economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the Westwood area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Westwood and the surrounding areas still offer an array of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When looking to buy a house in Westwood, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Westwood will also give you an idea of why homes in west Westwood are priced differently than homes in east Westwood, what the communities are like, and where to find Westwood's coolest attractions.
Are you financially prepared to buy a house in Westwood? 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 the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Westwood. We support experienced homeowners and first-time homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Westwood.
Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in Westwood. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Searching the web for Westwood averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.
Next, consider how much you can contribute to a down payment. Placing a minimum of 20% down can increase your chances of getting a great 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. Here's where it can help to get prequalified for a mortgage. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, consider your credit profile. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!
Make Your Move: Buy a Home in Westwood, 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 feels more rewarding when you get to live in a place like Westwood. Contact Mr. Cooper as you prepare to buy a house in Westwood.