All About Buying a House in Ithaca, NY

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Get Familiar with the Lay of the Land in Ithaca, NY

Strongly considering a home purchase in Ithaca? Awesome! You selected an energetic city with a dynamic selection 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 from coast to coast and have the inside scoop on Ithaca's housing scene.

Ithaca'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 economic growth and cultural expansion have helped to entice entrepreneurs, retirees, and new graduates to the Ithaca area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Ithaca and the surrounding areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream house! When buying a house in Ithaca, consider the home's location in relation to your everyday activities. If you can, 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 Ithaca will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Ithaca's hottest attractions.

You're ready to buy a house in Ithaca, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and work to make the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in New York or somewhere else entirely. We support experienced homeowners and first-time homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Ithaca.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Ithaca. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Ithaca averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, look at how much money you can put toward a down payment. Putting at least 20% down will boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. 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, consider your credit profile. Credit history is one of the main factors that lenders look at when considering your mortgage application. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

It's Go Time! Buy a House in Ithaca, NY

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 Ithaca. Contact Mr. Cooper as you get ready to buy a house in Ithaca. We're here for you every step of the way 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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