The Process of Buying a Home in Salem, NH

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

Ready to lay down some roots and buy a house in Salem? Great idea! You've chosen a lively city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers from coast to coast and have the inside scoop on Salem's housing scene.

Salem'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 Salem area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Salem and the surrounding areas still offer a wide range of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream house! When buying a house in Salem, 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 home's location will influence almost every aspect of your life. Discovering different parts of Salem will help you see how the northern part differs from the southern part, where to find Salem's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Salem, but is your bank account? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive 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 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 Salem.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Salem. Then, add up the 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 Salem averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, consider how much you can contribute to a down payment. Putting at least 20% down will increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. 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, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and who doesn't want more choices in life?

Make Your Move: Buy a Home in Salem, NH

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Salem. Contact Mr. Cooper as you prepare to buy a house in Salem. 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.*

Salem, NH Mr. Cooper Customer Reviews

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Simplify the home buying or selling process in Salem with Mr. Cooper.

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