What to Know Before Buying a Home in Arcata, CA

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Understanding the Arcata, CA Housing Landscape

Strongly considering a home purchase in Arcata? Awesome! You've chosen a colorful city with an ideal amount of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers from coast to coast and know the Arcata housing market well.

Arcata'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 support for local businesses and cultural growth have helped to beckon retirees, new businesses, and young families to the Arcata area, but so much change also means more traffic, more competition, and a need for more schools. That said, Arcata and its neighboring areas still offer a variety of home types and prices. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When looking to buy a house in Arcata, 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. Traveling around Arcata will also give you an idea of why homes in west Arcata are priced differently than homes in east Arcata, what the communities are like, and where to find Arcata's coolest attractions.

You're ready to buy a house in Arcata, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. You could choose to buy a home in California or elsewhere. We support 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 Arcata.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Arcata. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Arcata 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 boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. 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, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and who doesn't want more choices in life?

It's Go Time! Buy a House in Arcata, CA

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 moving feels more rewarding when you get to live in a place like Arcata. Contact Mr. Cooper as you prepare to buy a house in Arcata. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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