What to Know Before Buying a Home in Patterson, NY

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Exploring Patterson, NY From North to South

Thinking about buying a home in Patterson? Congratulations! You selected a vibrant city with a great balance of businesses, schools, restaurants and parks, 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 Patterson's housing scene.

Patterson'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. Ongoing cultural expansion and economic growth have helped to beckon young families, new businesses, and retirees to the Patterson area, but so much change also means more traffic, more competition, and a need for more schools. That said, Patterson and the surrounding areas still offer a wide range of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream house! When buying a home in Patterson, consider how near or far away the home is from the places you visit most. If possible, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Patterson will also give you an idea of why homes in west Patterson are priced differently than homes in east Patterson, what the communities are like, and where to find Patterson's coolest attractions.

Are your finances in the right place to buy a home in Patterson? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade and try our best to make the journey easier and more rewarding. You could choose to buy a home in New York or elsewhere. We serve first-time homeowners and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Patterson.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Patterson. Next, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in Patterson 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. Putting at least 20% down will increase 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. 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, check your credit. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

Make Your Move: Buy a Home in Patterson, NY

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Patterson. Contact Mr. Cooper as you get ready to buy a house in Patterson. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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