What to Know Before Buying a Home in Staten Island, NY

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Get Familiar with the Lay of the Land in Staten Island, NY

Thinking about buying a home in Staten Island? Great idea! You selected a lively city with a great balance of parks, businesses, and educational opportunities, 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 have the inside scoop on Staten Island's housing scene.

Staten Island'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 attract entrepreneurs, retirees, and new graduates to the Staten Island area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Staten Island and its nearby areas still offer an array of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream home! When buying a house in Staten Island, consider how near or far away the home is from the places you visit most. If possible, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Discovering different parts of Staten Island will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Staten Island's hottest attractions.

Are you financially prepared to buy a house in Staten Island? 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 every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in New York or elsewhere. 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 Staten Island.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Staten Island. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. Searching the web for Staten Island averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, figure out what a realistic down payment would be for you. A down payment of at least 20% can help increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. 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, 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 who doesn't want more choices in life?

Make Your Move: Buy a Home in Staten Island, 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 feels more rewarding when you get to live in a place like Staten Island. Contact Mr. Cooper as you look to buy a home in Staten Island. We're here for you every step of the way 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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Buying or selling a house in Staten Island? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.