The Process of Buying a Home in Lathrop, CA

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Understanding the Lathrop, CA Housing Landscape

Thinking about buying a home in Lathrop? Awesome! You've chosen a lively city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers nationwide and know the Lathrop housing market well.

Lathrop'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. Ongoing cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Lathrop area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Lathrop and its neighboring areas still offer a variety of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When buying a home in Lathrop, consider the home's location in relation to your everyday activities. If you can, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Discovering different parts of Lathrop will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Lathrop's hottest attractions.

Are your finances in the right place to buy a home in Lathrop? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home 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 experienced homeowners and first-time homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Lathrop.

First, calculate how much house you can afford. This will help determine the price range for your Lathrop house hunt. Then, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Lathrop will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, consider how much you can contribute to a down payment. Placing a minimum of 20% down can increase your odds of getting a good 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. 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, take a good look at your credit. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and who doesn't want more choices in life?

Make Your Move: Buy a Home in Lathrop, CA

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Lathrop. Contact Mr. Cooper as you prepare to buy a house in Lathrop. We're here to help you along 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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Buying or selling a house in Lathrop? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.