What to Know Before Buying a Home in Ridgewood, NJ

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

Thinking about buying a home in Ridgewood? Smart move! You picked a colorful city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers from coast to coast and have the inside scoop on Ridgewood's housing scene.

Given all of New Jersey's growth, Ridgewood homes aren't always easy to find at a comfortable price. Sustained support for local businesses and cultural growth have helped to entice young families, new businesses, and retirees to the Ridgewood area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Ridgewood and the surrounding areas still offer a variety of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your perfect home! When buying a house in Ridgewood, 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. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Ridgewood will also give you an idea of why homes in west Ridgewood are priced differently than homes in east Ridgewood, what the neighborhoods are like, and where to find Ridgewood's hottest attractions.

Are you financially prepared to buy a house in Ridgewood? 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 don't even have to stick with your decision to buy a house in Ridgewood. We serve new and experienced homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Ridgewood.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Ridgewood. Next, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Ridgewood averages will usually give you some solid estimates. 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. 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, down payment requirements can differ depending on the loan type. Here's where it can help to get prequalified for a mortgage. 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 one of the main factors that lenders look at when considering 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?

It's Go Time! Buy a House in Ridgewood, 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 Ridgewood, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Ridgewood. We're here for you from start to finish 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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