What to Know Before Buying a Home in Surprise, AZ

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Exploring Surprise, AZ From North to South

Strongly considering a home purchase in Surprise? Great idea! You've chosen a vibrant city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Surprise housing market.

Surprise's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Sustained cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Surprise area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Surprise and its nearby areas still offer a variety 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 Surprise, consider how near or far away the home is from the places you visit most. 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. Discovering different parts of Surprise will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Surprise's hottest attractions.

Are you financially prepared to buy a house in Surprise? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Surprise. We support new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Surprise.

First, calculate how much house you can afford. This will help determine the price range for your Surprise house hunt. After that, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Surprise will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, consider how much you can contribute to a down payment. Placing a minimum of 20% down can increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. 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 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 Surprise, 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 Surprise. Contact Mr. Cooper as you get ready to buy a house in Surprise. 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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