The Process of Buying a Home in Burlington, VT

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Exploring Burlington, VT From North to South

Thinking about buying a home in Burlington? Great idea! You picked a lively city with a great balance 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 across the country and are familiar with the ins-and-outs of the Burlington housing market.

Burlington'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 support for local businesses and cultural growth have helped to beckon entrepreneurs, retirees, and new graduates to the Burlington area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Burlington and its nearby areas still offer a variety of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When buying a home in Burlington, 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. Discovering different parts of Burlington will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Burlington's hottest attractions.

Are your finances in the right place to buy a home in Burlington? 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 could choose to buy a home in Vermont or elsewhere. We serve new 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 Burlington.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Burlington. Next, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Burlington will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, figure out what a realistic down payment would be for you. A down payment of at least 20% can help boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. 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, 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!

Make Your Move: Buy a Home in Burlington, VT

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 Burlington. Contact Mr. Cooper as you get ready to buy a house in Burlington. 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.*

Mr. Cooper Customer Reviews for Burlington, VT

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

Make buying or selling a Burlington home easier.

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