All About Buying a House in Irvine, CA

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Understanding the Irvine, CA Housing Landscape

Thinking about buying a home in Irvine? Congratulations! You selected a vibrant city with an ideal amount of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers across the country and are familiar with the ins-and-outs of the Irvine housing market.

Given all of California's growth, Irvine homes aren't always easy to find at a comfortable price. Sustained economic growth and cultural expansion have helped to beckon young families, new businesses, and retirees to the Irvine area, but so much change also means more traffic, more competition, and a need for more schools. That said, Irvine and its neighboring areas still offer a wide range of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream house! When buying a home in Irvine, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Exploring Irvine will also help you get a feel for how homes in east Irvine differ from west Irvine, where to find Irvine's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Irvine, 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 the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in California or elsewhere. We support new and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Irvine.

First, calculate how much house you can afford. This will help determine the price range for your Irvine house hunt. After that, jot down 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 Irvine averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can increase 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 helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. 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!

Make Your Move: Buy a Home in Irvine, CA

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Irvine, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Irvine. We're here for you every step of 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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