The Process of Buying a Home in Modesto, CA

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

Strongly considering a home purchase in Modesto? Smart move! You selected a vibrant city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers across the country and have the inside scoop on Modesto's housing scene.

Modesto'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 beckon entrepreneurs, retirees, and new graduates to the Modesto area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Modesto and the surrounding areas still offer a variety of home types and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream house! When looking to buy a house in Modesto, double check that you're factoring in the home's distance from your daily activities. If possible, 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 Modesto will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Modesto's hottest attractions.

Are your finances in the right place to buy a home in Modesto? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in California or somewhere else entirely. 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 Modesto.

First, estimate how much house you can afford. This will help determine the price range for your Modesto house hunt. Next, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Searching the web for Modesto 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.

Next, look at how much money you can put toward a down payment. A down payment of at least 20% can help improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, 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, consider your credit profile. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

Move Up and Out: Buying Your Dream House in Modesto, CA

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Modesto. Contact Mr. Cooper as you prepare to buy a house in Modesto. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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