The Process of Buying a Home in Portsmouth, OH

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Understanding the Portsmouth, OH Housing Landscape

Thinking about buying a home in Portsmouth? Smart move! You selected a colorful city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers across the country and are familiar with the ins-and-outs of the Portsmouth housing market.

Portsmouth is growing by the day, which means Portsmouth homes don't always come cheap. Ongoing cultural expansion and economic growth have helped to entice retirees, new businesses, and young families to the Portsmouth area, but so much change also means more traffic, more competition, and a need for more schools. That said, Portsmouth 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 house! When looking to buy a house in Portsmouth, consider how near or far away the home is from the places you visit most. If possible, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Discovering different parts of Portsmouth will help you see how the northern part differs from the southern part, what the communities are like, and where to find Portsmouth's coolest attractions.

Are your finances in the right place to buy a home in Portsmouth? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Ohio or elsewhere. We serve experienced homeowners and first-time homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Portsmouth.

First, estimate how much house you can afford. This will help determine the price range for your Portsmouth house hunt. After that, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. Searching the web for Portsmouth averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help boost your odds of getting a good 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, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and who doesn't want more choices in life?

It's Go Time! Buy a House in Portsmouth, OH

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 Portsmouth. Contact Mr. Cooper as you prepare to buy a house in Portsmouth. 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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