Get Familiar with the Lay of the Land in Hempstead, NY
Strongly considering a home purchase in Hempstead? Awesome! You picked a colorful city with an ideal amount of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers across the country and are familiar with the ins-and-outs of the Hempstead housing market.
Given all of New York's growth, Hempstead homes aren't always easy to find at a comfortable price. Sustained support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Hempstead area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Hempstead and its nearby areas still offer a variety of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream house! When buying a home in Hempstead, 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 Hempstead will help you see how the northern part differs from the southern part, what the communities are like, and where to find Hempstead's coolest attractions.
You're ready to buy a house in Hempstead, but is your bank account? 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 work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in New York or elsewhere. We serve first-time homeowners and experienced 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 Hempstead.
First, calculate how much house you can afford. This will help you narrow your search when house hunting in Hempstead. Next, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Hempstead will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.
Next, look at how much money you can put toward a down payment. Putting at least 20% down will boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at 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 Hempstead, NY
While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Hempstead, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Hempstead. 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.*
- * 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.