Exploring Somerset, NJ From North to South
Thinking about buying a home in Somerset? Smart move! You've chosen a vibrant city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers nationwide and know the Somerset housing market well.
Somerset is growing by the day, which means Somerset homes don't always come cheap. Sustained economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Somerset area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Somerset and the surrounding areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream house! When looking to buy a house in Somerset, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Somerset will help you see how the northern part differs from the southern part, what the communities are like, and where to find Somerset's coolest attractions.
Are your finances in the right place to buy a home in Somerset? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in New Jersey or somewhere else entirely. We work with new and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Somerset.
First, estimate how much house you can afford. This will help you set a price range while house shopping in Somerset. 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. Everyone's situation will differ, but a quick online search for average expenses in Somerset will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.
Now, consider how much you can contribute to a down payment. Placing a minimum of 20% down can improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. 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 an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!
Move Up and Out: Buying Your Dream House in Somerset, 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 can also be incredibly rewarding, especially when you get to live in an amazing city like Somerset. Contact Mr. Cooper as you look to buy a home in Somerset. 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.*
- * Buyer’s Bonus Credit (Xome Purchase Pro) Disclosure: Buyers may be eligible to receive a Buyer’s Bonus Credit/Xome Purchase Pro (“Credit”) equal to 15% of the buyer’s agent’s fee. The amount of the credit is based on commissions and determined by each agent. Credit will be documented in an agreement between agent and customer at the time of engagement. Credit must be disclosed to lender, seller, broker, appraiser, and other parties with an interest. Credit subject to written lender approval. Credit will be reflected in Purchase Agreement, Closing Disclosure, and other documents. Consult a tax professional regarding tax implications of Credit. Consult local broker for any state law requirements. Conditions: (a) Customer must complete purchase transaction using a Mr. Cooper Real Estate Rewards Agent; (b) Credit is subject to sales commission; (c) Credit is not available for properties marketed/listed through any auction process, including, www.xome.com; (d) Credit offer may be modified at any time via the Terms of Use but modifications will not apply to any transactions under contract; (e) Credit will be provided at the time of closing.
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- ** Listing Commission Disclosure: Mr. Cooper Real Estate Rewards agents have agreed to 1.99% seller’s agent commission and recommend 2% buyer’s agent commission for a total listing commission of 3.99%. Buyer’s agent commission can be changed at seller’s discretion.
- Mr. Cooper Real Estate Rewards is offered by Xome. Inc., an affiliate of Mr. Cooper. Referrals to Xome may provide a financial benefit to Mr. Cooper. You are not required to use a real estate agent on the Xome panel as a condition of receiving a loan from Mr. Cooper, and such use will have no impact on any loan application to Mr. Cooper.
- This is an advertisement and not intended as a solicitation for agent representation if your property is currently listed with an agent. Visit Xome's licensing page https://www.xome.com/auctions/licensing.
- Xome Inc. & Xome CT LLC [Davis E. Owen, Sr.‐Broker] (for CT properties] & Xome PR LLC (for PR properties), 750 Hwy 121 BYP, Suite 100, Lewisville, TX 75067.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.
- This is not a commitment to lend. All loans are subject to credit and property approval. This offer is nontransferable and may not be combined with any other mortgage offer. Advertised offer is subject to change. If a personal code is present on the advertised offer, you must provide such code to claim the offer. We may gather information about you including, but not limited to, credit bureau information, information for verification of income, information for appraisal and verification of property being used for collateral. We also verify your identity. Income, assets, and debt must meet eligibility requirements as established by Government and/or Lender guidelines.