Get Familiar with the Lay of the Land in Calabasas, CA
Thinking about buying a home in Calabasas? Smart move! 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 support 3.8 million customers across the country and have the inside scoop on Calabasas's housing scene.
Calabasas'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 cultural expansion and economic growth have helped to beckon young families, new businesses, and retirees to the Calabasas area, but so much change also means more traffic, more competition, and a need for more schools. That said, Calabasas and its neighboring areas still offer a variety of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream home! When buying a home in Calabasas, consider the home's location in relation to your everyday activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Calabasas will also give you an idea of why homes in west Calabasas are priced differently than homes in east Calabasas, what the neighborhoods are like, and where to find Calabasas's hottest attractions.
Are you financially prepared to buy a house in Calabasas? 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 try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in California or somewhere else entirely. We support new and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Calabasas.
Before anything else, estimate how much house you can afford. This will help determine the price range for your Calabasas house hunt. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Calabasas 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. Placing a minimum of 20% down can boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, 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, check 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 more options are always good!
It's Go Time! Buy a House in Calabasas, CA
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 Calabasas. Contact Mr. Cooper as you get ready to buy a house in Calabasas.