What to Know Before Buying a Home in Hillsborough, NJ

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Get Familiar with the Lay of the Land in Hillsborough, NJ

Strongly considering a home purchase in Hillsborough? Congratulations! You selected a lively city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers across the country and know the Hillsborough housing market well.

Hillsborough'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 young families, new businesses, and retirees to the Hillsborough area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Hillsborough and the surrounding areas still offer a wide range of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream home! When buying a house in Hillsborough, 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. Your home's location will influence almost every aspect of your life. Traveling around Hillsborough will also give you an idea of why homes in west Hillsborough are priced differently than homes in east Hillsborough, what the communities are like, and where to find Hillsborough's coolest attractions.

You're ready to buy a house in Hillsborough, but is your bank account? 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 work to make the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in New Jersey or somewhere else entirely. We serve first-time homeowners and experienced homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Hillsborough.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Hillsborough house hunt. Then, 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 Hillsborough will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, look at how much money you can put toward a down payment. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. 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 an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

Make Your Move: Buy a Home in Hillsborough, NJ

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Hillsborough, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Hillsborough. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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