What to Know Before Buying a Home in Los Altos, CA

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Get Familiar with the Lay of the Land in Los Altos, CA

Strongly considering a home purchase in Los Altos? Smart move! You selected an energetic 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 serve 3.8 million customers from coast to coast and know the Los Altos housing market well.

Los Altos'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 support for local businesses and cultural growth have helped to beckon young families, new businesses, and retirees to the Los Altos area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Los Altos and its neighboring areas still offer a variety of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream house! When buying a home in Los Altos, consider the home's location in relation to your everyday activities. If possible, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Exploring Los Altos will also help you get a feel for how homes in east Los Altos differ from west Los Altos, where to find Los Altos's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Los Altos? 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 try our best to make the journey easier and more rewarding. You could choose to buy a home in California or elsewhere. We serve 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 Los Altos.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Los Altos house hunt. Then, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in Los Altos will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, look at how much money you can put toward a down payment. Putting at least 20% down will increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. This is where getting prequalified for a mortgage comes in handy. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at 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 options are always a good thing!

Move Up and Out: Buying Your Dream House in Los Altos, 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 Los Altos. Contact Mr. Cooper as you look to buy a home in Los Altos. 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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