What to Know Before Buying a Home in Washington, NJ

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Exploring Washington, NJ From North to South

Ready to lay down some roots and buy a house in Washington? Great idea! You selected a vibrant city with a great balance of educational opportunities, businesses, 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 are familiar with the ins-and-outs of the Washington housing market.

Washington'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 cultural expansion and economic growth have helped to beckon young families, new businesses, and retirees to the Washington area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Washington and its neighboring areas still offer a wide range of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When buying a house in Washington, 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 Washington will help you see how the northern part differs from the southern part, what the communities are like, and where to find Washington's coolest attractions.

You're ready to buy a house in Washington, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home 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 Washington. We serve new and experienced homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Washington.

First, estimate how much house you can afford. This will help determine the price range for your Washington house hunt. Then, 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 Washington 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.

Now, consider how much you can contribute to a down payment. Placing a minimum of 20% down can boost your chances of getting a favorable 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, 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 more options are always good!

Make Your Move: Buy a Home in Washington, 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 Washington, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Washington. We're here for you from start to finish 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.*

Mr. Cooper Reviews from Real Customers in Washington, NJ

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