What to Know Before Buying a Home in Valley Stream, NY

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Get Familiar with the Lay of the Land in Valley Stream, NY

Strongly considering a home purchase in Valley Stream? Smart move! You selected a vibrant 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 service 3.8 million customers nationwide and are familiar with the ins-and-outs of the Valley Stream housing market.

Valley Stream'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 young families, new businesses, and retirees to the Valley Stream area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Valley Stream and the surrounding areas still offer an array of homes in price and amenities. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When looking to buy a house in Valley Stream, double check that you're factoring in the home's distance from your daily 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. Exploring Valley Stream will also help you get a feel for how homes in east Valley Stream differ from west Valley Stream, what the neighborhoods are like, and where to find Valley Stream's hottest attractions.

Are your finances in the right place to buy a home in Valley Stream? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive 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 support first-time homeowners and experienced homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Valley Stream.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Valley Stream. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Valley Stream will usually point you in the right direction. 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. Putting at least 20% down will increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. 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 more options are always good!

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

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Valley Stream. Contact Mr. Cooper as you prepare to buy a house in Valley Stream. We're here for you from start to finish 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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