What to Know Before Buying a Home in Mission Viejo, CA

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Get Familiar with the Lay of the Land in Mission Viejo, CA

Ready to lay down some roots and buy a house in Mission Viejo? Congratulations! You selected an energetic city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers nationwide and have the inside scoop on Mission Viejo's housing scene.

Given all of California's growth, Mission Viejo homes aren't always easy to find at a comfortable price. Continued support for local businesses and cultural growth have helped to beckon retirees, new businesses, and young families to the Mission Viejo area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Mission Viejo and the surrounding areas still offer a wide range of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When looking to buy a house in Mission Viejo, consider how near or far away the home is from the places you visit most. If possible, test drive your trip from the house 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 Mission Viejo will help you see how the northern part differs from the southern part, what the communities are like, and where to find Mission Viejo's coolest attractions.

Are you financially prepared to buy a house in Mission Viejo? 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 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 work with first-time homeowners and experienced homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Mission Viejo.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Mission Viejo. Then, map out 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 Mission Viejo averages will usually give you a solid estimate, though everyone's situation is different. 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. Putting at least 20% down will increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, 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, consider your credit profile. 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?

Move Up and Out: Buying Your Dream House in Mission Viejo, 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 Mission Viejo. Contact Mr. Cooper as you prepare to buy a house in Mission Viejo. 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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