What to Know Before Buying a Home in Irvington, NJ

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Understanding the Irvington, NJ Housing Landscape

Strongly considering a home purchase in Irvington? Congratulations! You picked a vibrant 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 service 3.8 million customers nationwide and have the inside scoop on Irvington's housing scene.

Irvington is growing by the day, which means Irvington homes don't always come cheap. Continued economic growth and cultural expansion have helped to beckon young families, new businesses, and retirees to the Irvington area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Irvington and the surrounding areas still offer an array of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When buying a house in Irvington, consider how near or far away the home is from the places you visit most. If you can, 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 Irvington will also give you an idea of why homes in west Irvington are priced differently than homes in east Irvington, what the communities are like, and where to find Irvington's coolest attractions.

Are you financially prepared to buy a house in Irvington? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Irvington. We support experienced homeowners and first-time homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Irvington.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Irvington. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Irvington 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.

Next, consider how much you can contribute to a down payment. Placing a minimum of 20% down can increase 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. This is where getting prequalified for a mortgage comes in handy. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Irvington, NJ

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Irvington, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Irvington. We're here for you every step of 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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