What to Know Before Buying a Home in White Plains, NY

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Exploring White Plains, NY From North to South

Thinking about buying a home in White Plains? Congratulations! You selected a vibrant city with an ideal amount 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 White Plains housing market.

White Plains'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 entice young families, new businesses, and retirees to the White Plains area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, White Plains and its neighboring areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When buying a home in White Plains, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Discovering different parts of White Plains will help you see how the northern part differs from the southern part, what the communities are like, and where to find White Plains's coolest attractions.

Are you financially prepared to buy a house in White Plains? 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 help first-time homeowners and experienced homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in White Plains.

Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in White Plains. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Searching the web for White Plains 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.

Now, look at how much money you can put toward a down payment. Putting at least 20% down will boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, 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. 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 White Plains, 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 White Plains. Contact Mr. Cooper as you get ready to buy a house in White Plains. 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.*

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