Get Familiar with the Lay of the Land in Escondido, CA
Strongly considering a home purchase in Escondido? Smart move! You've chosen an energetic city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers from coast to coast and have the inside scoop on Escondido's housing scene.
Escondido is growing by the day, which means Escondido homes don't always come cheap. Sustained cultural expansion and economic growth have helped to attract young families, new businesses, and retirees to the Escondido area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Escondido and the surrounding areas still offer an array of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream home! When looking to buy a house in Escondido, 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 Escondido will help you see how the northern part differs from the southern part, where to find Escondido's most popular attractions, and what the neighborhoods are like.
Are your finances in the right place to buy a home in Escondido? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. It doesn't matter whether you want to buy a home in California or somewhere else entirely. We serve first-time homeowners 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 Escondido.
Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Escondido. Then, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Searching the web for Escondido averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.
Now, consider how much you can contribute to a down payment. A down payment of at least 20% can help boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, the required down payment will depend on the type of loan you get. Here's where it can help to get prequalified for a mortgage. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, consider your credit profile. Lenders place a high importance on credit history when looking at your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!
It's Go Time! Buy a House in Escondido, 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 Escondido. Contact Mr. Cooper as you get ready to buy a house in Escondido.