The Process of Buying a Home in Dover, NJ

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Exploring Dover, NJ From North to South

Ready to lay down some roots and buy a house in Dover? Awesome! You've chosen an energetic city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Dover housing market.

Dover'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 support for local businesses and cultural growth have helped to attract young families, new businesses, and retirees to the Dover area, but so much change also means more traffic, more competition, and a need for more schools. That said, Dover and its nearby areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When buying a home in Dover, 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. The location of your house will impact virtually every part of your life. Traveling around Dover will also give you an idea of why homes in west Dover are priced differently than homes in east Dover, what the communities are like, and where to find Dover's coolest attractions.

Are your finances in the right place to buy a home in Dover? 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. You don't even have to stick with your decision to buy a house in Dover. We help new and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Dover.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Dover. After that, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Dover averages will usually give you some solid estimates. 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 increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, 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. 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. 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 options are always a good thing!

It's Go Time! Buy a House in Dover, NJ

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Dover. Contact Mr. Cooper as you get ready to buy a house in Dover. We're here for you every step of 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.*

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