What to Know Before Buying a Home in Riverview, MI

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Understanding the Riverview, MI Housing Landscape

Thinking about buying a home in Riverview? Great idea! You selected a vibrant city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers nationwide and know the Riverview housing market well.

Riverview is growing by the day, which means Riverview homes don't always come cheap. Sustained support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Riverview area, but so much change also means more traffic, more competition, and a need for more schools. That said, Riverview and the surrounding areas still offer a wide range of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream house! When looking to buy a house in Riverview, consider how near or far away the home is from the places you visit most. If possible, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Discovering different parts of Riverview will help you see how the northern part differs from the southern part, what the communities are like, and where to find Riverview's coolest attractions.

Are your finances in the right place to buy a home in Riverview? 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 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 Riverview. We work with new and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Riverview.

First, estimate how much house you can afford. This will help determine the price range for your Riverview house hunt. Then, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Searching the web for Riverview 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.

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, 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. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

Move Up and Out: Buying Your Dream House in Riverview, MI

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Riverview. Contact Mr. Cooper as you look to buy a home in Riverview. 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 Customer Reviews for Riverview, MI

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