The Process of Buying a Home in Johnston, RI

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Understanding the Johnston, RI Housing Landscape

Thinking about buying a home in Johnston? Congratulations! You picked a lively city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers from coast to coast and know the Johnston housing market well.

Given all of Rhode Island's growth, Johnston homes aren't always easy to find at a comfortable price. Sustained economic growth and cultural expansion have helped to attract young families, new businesses, and retirees to the Johnston area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Johnston and its nearby areas still offer a wide range of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream home! When buying a house in Johnston, consider how near or far away the home is from the places you visit most. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Johnston will also help you get a feel for how homes in east Johnston differ from west Johnston, what the communities are like, and where to find Johnston's coolest attractions.

Are you financially prepared to buy a house in Johnston? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Johnston. We help new and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Johnston.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Johnston. After that, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Johnston will usually point you in the right direction. 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 increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. 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, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

Move Up and Out: Buying Your Dream House in Johnston, RI

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Johnston, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Johnston. 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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