The Process of Buying a Home in Chesapeake, VA

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Get Familiar with the Lay of the Land in Chesapeake, VA

Ready to lay down some roots and buy a house in Chesapeake? Smart move! You picked a vibrant city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers across the country and have the inside scoop on Chesapeake's housing scene.

Given all of Virginia's growth, Chesapeake homes aren't always easy to find at a comfortable price. Ongoing cultural expansion and economic growth have helped to attract entrepreneurs, retirees, and new graduates to the Chesapeake area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Chesapeake and its nearby areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (ideally) your dream home! When buying a house in Chesapeake, 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 home's location will influence almost every aspect of your life. Discovering different parts of Chesapeake will help you see how the northern part differs from the southern part, what the communities are like, and where to find Chesapeake's coolest attractions.

You're ready to buy a house in Chesapeake, 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 every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Virginia or elsewhere. We support first-time homeowners and experienced homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Chesapeake.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Chesapeake house hunt. After that, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Searching the web for Chesapeake 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.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, 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, 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 options are always a good thing!

Move Up and Out: Buying Your Dream House in Chesapeake, VA

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 Chesapeake. Contact Mr. Cooper as you look to buy a home in Chesapeake. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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Buying or selling a house in Chesapeake? Mr. Cooper makes it easier.

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