The Process of Buying a Home in Payson, AZ

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Understanding the Payson, AZ Housing Landscape

Ready to lay down some roots and buy a house in Payson? Congratulations! You picked a lively city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers nationwide and are familiar with the ins-and-outs of the Payson housing market.

Payson is growing by the day, which means Payson homes don't always come cheap. Ongoing economic growth and cultural expansion have helped to entice entrepreneurs, retirees, and new graduates to the Payson area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Payson and its neighboring areas still offer a wide range of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a house in Payson, consider how near or far away the home is from the places you visit most. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Payson will also help you get a feel for how homes in east Payson differ from west Payson, where to find Payson's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Payson? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Payson. We help experienced homeowners and first-time homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Payson.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Payson. Next, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Payson averages will usually give you some solid estimates. 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. Putting at least 20% down will increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. 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 more options are always good!

It's Go Time! Buy a House in Payson, 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 Payson. Contact Mr. Cooper as you prepare to buy a house in Payson. 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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