What to Know Before Buying a Home in Yuma, AZ

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Exploring Yuma, AZ From North to South

Ready to lay down some roots and buy a house in Yuma? Congratulations! You picked an energetic city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers nationwide and know the Yuma housing market well.

Yuma'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. Continued support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Yuma area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Yuma and the surrounding areas still offer a variety of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your perfect home! When looking to buy a house in Yuma, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Discovering different parts of Yuma will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Yuma's hottest attractions.

Are you financially prepared to buy a house in Yuma? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 Yuma. We work with new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Yuma.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Yuma house hunt. Next, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Yuma averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, look at how much money you can put toward a down payment. A down payment of at least 20% can help improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. 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. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

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

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But when you get to live in a stellar city like Yuma, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Yuma. 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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