What to Know Before Buying a Home in Paradise Valley, AZ

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Get Familiar with the Lay of the Land in Paradise Valley, AZ

Thinking about buying a home in Paradise Valley? Congratulations! You picked a colorful city with a great balance 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 know the Paradise Valley housing market well.

Given all of Arizona's growth, Paradise Valley homes aren't always easy to find at a comfortable price. Sustained economic growth and cultural expansion have helped to attract young families, new businesses, and retirees to the Paradise Valley area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Paradise Valley and its neighboring areas still offer a variety of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When buying a home in Paradise Valley, consider the home's location in relation to your everyday activities. If you can, test drive your route to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Paradise Valley will also help you get a feel for how homes in east Paradise Valley differ from west Paradise Valley, where to find Paradise Valley's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Paradise Valley, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive 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 Paradise Valley. We help new and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Paradise Valley.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Paradise Valley. Then, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Paradise Valley averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, look at how much money you can put toward a down payment. Putting at least 20% down will boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. 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, 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 who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Paradise Valley, AZ

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Paradise Valley. Contact Mr. Cooper as you prepare to buy a house in Paradise Valley. We're here for you every step of the way 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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