The Process of Buying a Home in Lakewood, NJ

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Understanding the Lakewood, NJ Housing Landscape

Ready to lay down some roots and buy a house in Lakewood? Congratulations! You've chosen an energetic city with a dynamic selection 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 from coast to coast and have the inside scoop on Lakewood's housing scene.

Given all of New Jersey's growth, Lakewood homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to attract entrepreneurs, retirees, and new graduates to the Lakewood area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Lakewood and its nearby areas still offer a wide range of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream house! When buying a house in Lakewood, double check that you're factoring in the home's distance from your daily 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. Discovering different parts of Lakewood will help you see how the northern part differs from the southern part, where to find Lakewood's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Lakewood, 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 everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in New Jersey or elsewhere. We work with experienced homeowners and first-time homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Lakewood.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Lakewood house hunt. Next, 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. Everyone's situation will differ, but a quick online search for average expenses in Lakewood will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, look at how much money you can put toward 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, consider your credit profile. 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 options are always a good thing!

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

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But when you get to live in a stellar city like Lakewood, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Lakewood. We're here for you every step of 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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