The Process of Buying a Home in Lafayette, CA

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

Ready to lay down some roots and buy a house in Lafayette? Awesome! You selected a colorful city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers nationwide and know the Lafayette housing market well.

Given all of California's growth, Lafayette homes aren't always easy to find at a comfortable price. Continued economic growth and cultural expansion have helped to beckon retirees, new businesses, and young families to the Lafayette area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Lafayette and the surrounding areas still offer an array of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a house in Lafayette, consider how near or far away the home is from the places you visit most. If you can, 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 Lafayette will also give you an idea of why homes in west Lafayette are priced differently than homes in east Lafayette, what the neighborhoods are like, and where to find Lafayette's hottest attractions.

Are your finances in the right place to buy a home in Lafayette? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Lafayette. 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 Lafayette.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Lafayette. After that, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Lafayette 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.

Then, consider how much you can contribute to a down payment. Placing a minimum of 20% down can increase 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. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Credit history is an important part of 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 Lafayette, CA

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Lafayette. Contact Mr. Cooper as you get ready to buy a house in Lafayette. We're here for you from start to finish 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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