What to Know Before Buying a Home in New Castle, PA

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Get Familiar with the Lay of the Land in New Castle, PA

Strongly considering a home purchase in New Castle? Smart move! 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 support 3.8 million customers nationwide and have the inside scoop on New Castle's housing scene.

Given all of Pennsylvania's growth, New Castle homes aren't always easy to find at a comfortable price. Ongoing cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the New Castle area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, New Castle and the surrounding areas still offer a wide range of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When buying a house in New Castle, consider the home's location in relation to your everyday activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Traveling around New Castle will also give you an idea of why homes in west New Castle are priced differently than homes in east New Castle, what the communities are like, and where to find New Castle's coolest attractions.

Are you financially prepared to buy a house in New Castle? 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 try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in New Castle. We serve experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in New Castle.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in New Castle. Next, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for New Castle 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.

Now, look at how much money you can put toward a down payment. Putting at least 20% down will increase your odds of getting a good 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. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check your credit. 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?

Move Up and Out: Buying Your Dream House in New Castle, PA

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like New Castle. Contact Mr. Cooper as you prepare to buy a house in New Castle. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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