The Process of Buying a Home in Merrimack, NH

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Understanding the Merrimack, NH Housing Landscape

Thinking about buying a home in Merrimack? Great idea! You picked a vibrant city with a dynamic selection 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 nationwide and are familiar with the ins-and-outs of the Merrimack housing market.

Given all of New Hampshire's growth, Merrimack homes aren't always easy to find at a comfortable price. Ongoing economic growth and cultural expansion have helped to beckon entrepreneurs, retirees, and new graduates to the Merrimack area, but so much change also means more traffic, more competition, and a need for more schools. That said, Merrimack and the surrounding areas still offer a variety of home styles and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream home! When buying a house in Merrimack, consider the home's location in relation to your everyday activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Exploring Merrimack will also help you get a feel for how homes in east Merrimack differ from west Merrimack, what the communities are like, and where to find Merrimack's coolest attractions.

Are your finances in the right place to buy a home in Merrimack? 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 Merrimack. We help first-time homeowners and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Merrimack.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Merrimack. After that, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Merrimack 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, look at how much money you can put toward a down payment. A down payment of at least 20% can help boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

Make Your Move: Buy a Home in Merrimack, NH

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Merrimack, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Merrimack. 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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Buying or selling a house in Merrimack? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.