What to Know Before Buying a Home in Watertown, NY

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

Thinking about buying a home in Watertown? Congratulations! You picked a vibrant city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers from coast to coast and have the inside scoop on Watertown's housing scene.

Watertown'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. Sustained cultural expansion and economic growth have helped to beckon retirees, new businesses, and young families to the Watertown area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Watertown and its neighboring areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When looking to buy a house in Watertown, 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. Discovering different parts of Watertown will help you see how the northern part differs from the southern part, what the communities are like, and where to find Watertown's coolest attractions.

You're ready to buy a house in Watertown, but is your bank account? 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 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 serve new and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Watertown.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Watertown house hunt. Then, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Watertown 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, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. 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. Credit history is one of the main factors that lenders look at when considering your mortgage application. You may be presented with more mortgage options if you have healthy credit— and who doesn't want more choices in life?

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

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Watertown, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Watertown. We're here for you from start to finish 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.*

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