What to Know Before Buying a Home in Pheonix, AZ

Busy? Have us call you back. Call Me Back

More Information

Exploring Pheonix, AZ From North to South

Thinking about buying a home in Pheonix? Great idea! You've chosen a colorful city with an ideal amount of educational opportunities, businesses, 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 Pheonix's housing scene.

Given all of Arizona's growth, Pheonix homes aren't always easy to find at a comfortable price. Sustained economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Pheonix area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Pheonix and the surrounding areas still offer a variety of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When buying a home in Pheonix, double check that you're factoring in the home's distance from your daily activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Traveling around Pheonix will also give you an idea of why homes in west Pheonix are priced differently than homes in east Pheonix, what the neighborhoods are like, and where to find Pheonix's hottest attractions.

You're ready to buy a house in Pheonix, but is your bank account? 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. It doesn't matter whether you want to buy a home in Arizona or somewhere else entirely. 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 Pheonix.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Pheonix. After that, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Searching the web for Pheonix averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, 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). Even so, the required down payment will depend on the type of loan you get. 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. Credit history is one of the main factors that lenders look at when considering 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 Pheonix, 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 Pheonix. Contact Mr. Cooper as you get ready to buy a house in Pheonix. 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.*

Mr. Cooper Reviews from Real Customers in Pheonix, AZ

Read actual reviews from actual Mr. Cooper customers in Pheonix, AZ. Then call us to see how we can help you.

Make buying or selling a Pheonix home easier.

Put Mr. Cooper in your corner for a better home buying or selling experience.