The Process of Buying a Home in Princeton, NJ

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Exploring Princeton, NJ From North to South

Ready to lay down some roots and buy a house in Princeton? Congratulations! You picked a colorful city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers nationwide and know the Princeton housing market well.

Princeton is growing by the day, which means Princeton homes don't always come cheap. Sustained economic growth and cultural expansion have helped to entice entrepreneurs, retirees, and new graduates to the Princeton area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Princeton and the surrounding areas still offer an array of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream home! When buying a home in Princeton, consider the home's location in relation to your everyday 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. Exploring Princeton will also help you get a feel for how homes in east Princeton differ from west Princeton, what the communities are like, and where to find Princeton's coolest attractions.

Are your finances in the right place to buy a home in Princeton? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. You could choose to buy a home in New Jersey or elsewhere. We support 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 Princeton.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Princeton. Then, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Princeton 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, figure out what a realistic down payment would be for you. A down payment of at least 20% can help increase your odds of getting a good 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. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Princeton, 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 moving feels more rewarding when you get to live in a place like Princeton. Contact Mr. Cooper as you get ready to buy a house in Princeton. We're here to help you along 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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