What to Know Before Buying a Home in Troy, NY

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

Thinking about buying a home in Troy? Congratulations! You selected a vibrant 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 service 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Troy housing market.

Troy is growing by the day, which means Troy homes don't always come cheap. Sustained cultural expansion and economic growth have helped to beckon retirees, new businesses, and young families to the Troy area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Troy and the surrounding areas still offer a variety of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When looking to buy a house in Troy, double check that you're factoring in the home's distance from your daily activities. If possible, 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. Traveling around Troy will also give you an idea of why homes in west Troy are priced differently than homes in east Troy, where to find Troy's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Troy, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive 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 help first-time homeowners and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Troy.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Troy. Then, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Searching the web for Troy averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, consider how much you can contribute to a down payment. A down payment of at least 20% can help improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, 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 helps you know how much you might be eligible to borrow from a lender. Also, take a good look at 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!

Move Up and Out: Buying Your Dream House in Troy, 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 Troy. Contact Mr. Cooper as you prepare to buy a house in Troy. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

Mr. Cooper Reviews from Real Customers in Troy, NY

Read real stories from real Mr. Cooper home buyers and sellers in Troy, NY. Then contact us to see what we can do for you.

Buying or selling a house in Troy? 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.