What to Know Before Buying a Home in Matawan, NJ

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

Ready to lay down some roots and buy a house in Matawan? Great idea! You picked a colorful city with a great balance of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers across the country and know the Matawan housing market well.

Matawan'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. Continued support for local businesses and cultural growth have helped to entice young families, new businesses, and retirees to the Matawan area, but so much change also means more traffic, more competition, and a need for more schools. That said, Matawan and its neighboring areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When buying a home in Matawan, 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. Your home's location will influence almost every aspect of your life. Exploring Matawan will also help you get a feel for how homes in east Matawan differ from west Matawan, where to find Matawan's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Matawan? 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 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 Matawan. We serve experienced homeowners and first-time 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 Matawan.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Matawan. Next, 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. Searching the web for Matawan averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, look at how much money you can put toward a down payment. Placing a minimum of 20% down can improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, the required down payment will depend on the type of loan you get. 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, check your credit. 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 who doesn't want more choices in life?

Make Your Move: Buy a Home in Matawan, NJ

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Matawan. Contact Mr. Cooper as you look to buy a home in Matawan. 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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