Get Familiar with the Lay of the Land in Darby, PA
Thinking about buying a home in Darby? Great idea! You picked an energetic city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers nationwide and have the inside scoop on Darby's housing scene.
Darby'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 economic growth and cultural expansion have helped to attract young families, new businesses, and retirees to the Darby area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Darby and its neighboring areas still offer a variety of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream house! When looking to buy a house in Darby, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Darby will also help you get a feel for how homes in east Darby differ from west Darby, what the communities are like, and where to find Darby's coolest attractions.
Are your finances in the right place to buy a home in Darby? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Pennsylvania or elsewhere. We support first-time homeowners and experienced homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Darby.
Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Darby. After that, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Darby averages will usually give you some solid estimates. 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 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, consider your credit profile. Credit history is an important part of 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 Darby, PA
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 Darby. Contact Mr. Cooper as you prepare to buy a house in Darby.