What to Know Before Buying a Home in Maricopa, AZ

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Understanding the Maricopa, AZ Housing Landscape

Thinking about buying a home in Maricopa? Great idea! You picked a colorful city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers from coast to coast and have the inside scoop on Maricopa's housing scene.

Maricopa is growing by the day, which means Maricopa homes don't always come cheap. Ongoing cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Maricopa area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Maricopa and the surrounding areas still offer an array of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your perfect home! When looking to buy a house in Maricopa, 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 Maricopa will help you see how the northern part differs from the southern part, what the communities are like, and where to find Maricopa's coolest attractions.

Are you financially prepared to buy a house in Maricopa? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Arizona or elsewhere. We support 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 Maricopa.

Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in Maricopa. Then, add up the 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 Maricopa 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.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help increase 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 helps you know how much you might be eligible to borrow from a lender. Also, check your credit. Credit history is an important part of 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 Maricopa, AZ

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 Maricopa. Contact Mr. Cooper as you prepare to buy a house in Maricopa. We're here for you every step of 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.*

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