The Process of Buying a Home in South Burlington, VT

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Understanding the South Burlington, VT Housing Landscape

Strongly considering a home purchase in South Burlington? Smart move! You picked an energetic 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 serve 3.8 million customers nationwide and have the inside scoop on South Burlington's housing scene.

South 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 cultural expansion and economic growth have helped to attract entrepreneurs, retirees, and new graduates to the South Burlington area, but so much change also means more traffic, more competition, and a need for more schools. That said, South Burlington and its neighboring areas still offer an array of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream home! When buying a house in South Burlington, double check that you're factoring in the home's distance from your daily 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 South Burlington will also give you an idea of why homes in west South Burlington are priced differently than homes in east South Burlington, what the neighborhoods are like, and where to find South Burlington's hottest attractions.

Are you financially prepared to buy a house in South Burlington? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in South Burlington. We work with first-time homeowners and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in South Burlington.

First, calculate how much house you can afford. This will help you set a price range while house shopping in South Burlington. Then, jot down 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 South Burlington averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, figure out what a realistic down payment would be for you. Putting at least 20% down will 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. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. Credit history is one of the main factors that lenders look at when considering your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

It's Go Time! Buy a House in South Burlington, VT

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 feels more rewarding when you get to live in a place like South Burlington. Contact Mr. Cooper as you look to buy a home in South Burlington. We're here for you from start to finish 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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