What to Know Before Buying a Home in Laconia, NH

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Get Familiar with the Lay of the Land in Laconia, NH

Ready to lay down some roots and buy a house in Laconia? Great idea! You selected a vibrant city with a great balance 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 across the country and know the Laconia housing market well.

Given all of New Hampshire's growth, Laconia homes aren't always easy to find at a comfortable price. Ongoing economic growth and cultural expansion have helped to attract young families, new businesses, and retirees to the Laconia area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Laconia and the surrounding areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a house in Laconia, consider how near or far away the home is from the places you visit most. If you can, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Laconia will also give you an idea of why homes in west Laconia are priced differently than homes in east Laconia, where to find Laconia's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Laconia? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in New Hampshire or somewhere else entirely. We work with first-time homeowners and experienced homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Laconia.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Laconia. Then, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Laconia 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, consider how much you can contribute to a down payment. Putting at least 20% down will improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check your credit. 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 options are always a good thing!

Move Up and Out: Buying Your Dream House in Laconia, NH

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 when you get to live in a stellar city like Laconia, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Laconia. 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.*

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