The Process of Buying a Home in Norristown, PA

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Understanding the Norristown, PA Housing Landscape

Ready to lay down some roots and buy a house in Norristown? Congratulations! You've chosen an energetic 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 service 3.8 million customers from coast to coast and know the Norristown housing market well.

Norristown'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. Continued cultural expansion and economic growth have helped to attract entrepreneurs, retirees, and new graduates to the Norristown area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Norristown and the surrounding areas still offer a variety of home types and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream house! When buying a house in Norristown, consider the home's location in relation to your everyday activities. If you can, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Norristown will also give you an idea of why homes in west Norristown are priced differently than homes in east Norristown, what the neighborhoods are like, and where to find Norristown's hottest attractions.

Are your finances in the right place to buy a home in Norristown? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. 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 Pennsylvania or elsewhere. We work with new 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 Norristown.

Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in Norristown. After that, map out your 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 Norristown averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, figure out what a realistic down payment would be for you. Putting at least 20% down will improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, the required down payment will depend on the type of loan you get. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check 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 more options are always good!

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

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Norristown. Contact Mr. Cooper as you prepare to buy a house in Norristown. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

Mr. Cooper Reviews from Real Customers in Norristown, PA

Take it from these Mr. Cooper home buyers and sellers in Norristown, PA: We love helping homeowners. Call now to see how we can serve you.

Simplify the home buying or selling process in Norristown with Mr. Cooper.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.