All About Buying a House in Syracuse, NY

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Understanding the Syracuse, NY Housing Landscape

Thinking about buying a home in Syracuse? 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 house hunt, purchase, and move more streamlined. We serve 3.8 million customers across the country and are familiar with the ins-and-outs of the Syracuse housing market.

Syracuse is growing by the day, which means Syracuse homes don't always come cheap. Continued economic growth and cultural expansion have helped to beckon young families, new businesses, and retirees to the Syracuse area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Syracuse and its nearby areas still offer a wide range of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream home! When looking to buy a house in Syracuse, consider the home's location in relation to your everyday activities. 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. Traveling around Syracuse will also give you an idea of why homes in west Syracuse are priced differently than homes in east Syracuse, what the neighborhoods are like, and where to find Syracuse's hottest attractions.

You're ready to buy a house in Syracuse, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 Syracuse. We support 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 Syracuse.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Syracuse. After that, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Searching the web for Syracuse averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, look at how much money you can put toward a down payment. Placing a minimum of 20% down can boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, consider your credit profile. 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 more options are always good!

Make Your Move: Buy a Home in Syracuse, NY

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Syracuse. Contact Mr. Cooper as you get ready to buy a house in Syracuse. We're here to help you along 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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