The perfect suburban oasis lies in Villanova. Located just outside of Philadelphia, Villanova is a picturesque suburb with plenty of gorgeous real estate. Homes here come in all sizes and shapes, many come with large lawns, privacy from the street, and all the updated amenities. Yet, the town itself is filled with a small-town charm that creates a strong sense of community and connection. The nearby downtown areas have plenty of coffee shops, locally-owned restaurants, and shops to choose from. Yet, the area is easily accessible to all Philadelphia has to offer.
If you’re considering investing in Villanova real estate, you might be wondering about the details of this neighborhood. Our guide will walk you through what you need to know about Villanova and the most important steps of the home-buying process.
Why should you buy a house in Villanova?
Villanova is one of the best neighborhoods outside of Philadelphia. Our guide will walk you through the best reasons to relocate here.
Outstanding educational institutions
One of the main draws for families in Villanova are the amazing public and private school options available here. The public schools are top-rated and offer amazing educational opportunities. Many fantastic colleges are also in the area including Villanova, Bryn Mawr College and Drexel University in Philadelphia. It’s the perfect place for those that want to pursue academic excellence or engage in professional development opportunities.
Villanova has an excellent location right along the Main Line of Philadelphia. The train commute is less than 30 minutes, or a bit over 30 minutes by driving, making Villanova a great location for those that need to commute into Philadelphia. Whether you’re working or studying in Philadelphia, or you just want to enjoy a night out on the town, the commute is a plus when you live in Villanova.
What kind of homes can I buy in Villanova?
The homes in Villanova are some of the most stunning that you’ll find anywhere in the state. They are expansive, with beautiful design choices that range from traditional to Spanish and Mediterranean styles, as well as the ornamental designs of the Victorian era. Homes have incredible outdoor spaces as well that complement the stunning interiors. It’s easy to find homes with lovely outdoor entertaining areas, pool complexes, and more. Villanova is the perfect spot if you want a luxurious home that is lavish and opulent.
Types of home loans for all home buyers
If you’re ready to start shopping for your Villanova home, you must work out your financing. Working with a trusted financial planner is important to ensure you choose a home within your budget and have savings for emergency repairs or potential renovations. Prequalification is a must in today’s low inventory market. If you need financing for your home, there are several options. Our guide will outline the best choices for different home mortgage loans.
Private lenders issue conventional loans and are not backed by the federal government. These loans typically require a great credit score above 620; interest rates may vary depending on your financial history. There are two types of conventional loans: conforming loans, which adhere to standards set by the Federal Housing Finance Agency (FHFA), and non-conforming loans, which are for borrowers with unusual credit scores or wanting to purchase more expensive homes.
FHA loans are issued by the Federal Housing Administration (FHA) and tend to have competitive interest rates. They are great for borrowers that may not have a great credit score or don’t have a large down payment saved. Although you don’t necessarily need a large down payment, FHA loans may require mortgage insurance if you put down less than 20%.
The Department of Veteran Affairs issues VA loans specifically for members of the U.S. military (active duty and veterans) and their families. There is no specific mortgage insurance, downpayment, or credit score requirement. These loans also feature competitive mortgage rates.
Money-saving tips for buying a home
In addition to understanding your finances, we have some money-saving tips for ensuring you get the best deal possible on your home.
Find the best mortgage rate
Finding the best mortgage rate is part of choosing which type of home loan to use. You’ll want to shop around from different lenders and explore different types of loans to ensure you get the best deal possible.
If you’re shopping for a home, you’ll want to get pre-qualified from a mortgage lender. Getting pre-qualified will show sellers you are serious about buying a home and can help you place a more competitive offer.
Consider a larger down payment to keep monthly payments down
If you’re able, putting down a larger down payment will help you in a variety of ways. A larger cash down payment can be more attractive to sellers and help you place a competitive offer. It can also help you reduce your monthly mortgage payment, leaving you with more cash on hand in the long run.
Ready to buy a house in Villanova?
If you’re ready to purchase a home for sale in Villanova, you will want to work with a great realtor. A great real estate agent can help you bring your vision for your real estate goals to life. In the Villanova area, Debbie Quigley
is one of the best. Her experience in the local market will be a huge help when finding your next home in Villanova. Contact her today
to get started.
*Header photo courtesy of Debbie Quigley