The Process of Buying a Home in Tiverton, RI

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Get Familiar with the Lay of the Land in Tiverton, RI

Thinking about buying a home in Tiverton? Awesome! You picked an energetic city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Tiverton housing market.

Given all of Rhode Island's growth, Tiverton homes aren't always easy to find at a comfortable price. Ongoing economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Tiverton area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Tiverton and its nearby areas still offer a wide range of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream house! When buying a home in Tiverton, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Discovering different parts of Tiverton will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Tiverton's hottest attractions.

You're ready to buy a house in Tiverton, but is your bank account? 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 the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in Rhode Island or somewhere else entirely. We serve new and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Tiverton.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Tiverton. Then, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in Tiverton will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, look at how much money you can put toward a down payment. A down payment of at least 20% can help increase 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. Getting prequalified will give you an idea of how much you might qualify 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 more options are always good!

It's Go Time! Buy a House in Tiverton, RI

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Tiverton. Contact Mr. Cooper as you look to buy a home in Tiverton. We're here to help you along 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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