What to Know Before Buying a Home in Chico, CA

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Get Familiar with the Lay of the Land in Chico, CA

Ready to lay down some roots and buy a house in Chico? Smart move! You picked a lively city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Chico housing market.

Chico is growing by the day, which means Chico homes don't always come cheap. Continued cultural expansion and economic growth have helped to entice young families, new businesses, and retirees to the Chico area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Chico and the surrounding areas still offer a variety of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your perfect home! When buying a home in Chico, consider how near or far away the home is from the places you visit most. If possible, 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 Chico will help you see how the northern part differs from the southern part, what the communities are like, and where to find Chico's coolest attractions.

You're ready to buy a house in Chico, 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 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 Chico. We serve new and experienced homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Chico.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Chico. After that, 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. Searching the web for Chico averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Now, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, 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. 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 more options are always good!

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

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Chico, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Chico. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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