Get Familiar with the Lay of the Land in Monrovia, CA
Thinking about buying a home in Monrovia? Congratulations! You've chosen an energetic city with a great balance of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers across the country and know the Monrovia housing market well.
Given all of California's growth, Monrovia homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Monrovia area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Monrovia and the surrounding areas still offer a wide range of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream home! When buying a house in Monrovia, 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. Traveling around Monrovia will also give you an idea of why homes in west Monrovia are priced differently than homes in east Monrovia, where to find Monrovia's most popular attractions, and what the neighborhoods are like.
Are you financially prepared to buy a house in Monrovia? 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 could choose to buy a home in California or elsewhere. We help first-time homeowners and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Monrovia.
Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Monrovia. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Searching the web for Monrovia averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.
Now, figure out what a realistic down payment would be for you. A down payment of at least 20% can help boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and who doesn't want more choices in life?
Move Up and Out: Buying Your Dream House in Monrovia, 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 Monrovia. Contact Mr. Cooper as you look to buy a home in Monrovia. 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.*
- * Buyer’s Bonus Credit (Xome Purchase Pro) Disclosure: Buyers may be eligible to receive a Buyer’s Bonus Credit/Xome Purchase Pro (“Credit”) equal to 15% of the buyer’s agent’s fee. The amount of the credit is based on commissions and determined by each agent. Credit will be documented in an agreement between agent and customer at the time of engagement. Credit must be disclosed to lender, seller, broker, appraiser, and other parties with an interest. Credit subject to written lender approval. Credit will be reflected in Purchase Agreement, Closing Disclosure, and other documents. Consult a tax professional regarding tax implications of Credit. Consult local broker for any state law requirements. Conditions: (a) Customer must complete purchase transaction using a Mr. Cooper Real Estate Rewards Agent; (b) Credit is subject to sales commission; (c) Credit is not available for properties marketed/listed through any auction process, including, www.xome.com; (d) Credit offer may be modified at any time via the Terms of Use but modifications will not apply to any transactions under contract; (e) Credit will be provided at the time of closing.
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- ** Listing Commission Disclosure: Mr. Cooper Real Estate Rewards agents have agreed to 1.99% seller’s agent commission and recommend 2% buyer’s agent commission for a total listing commission of 3.99%. Buyer’s agent commission can be changed at seller’s discretion.
- Mr. Cooper Real Estate Rewards is offered by Xome. Inc., an affiliate of Mr. Cooper. Referrals to Xome may provide a financial benefit to Mr. Cooper. You are not required to use a real estate agent on the Xome panel as a condition of receiving a loan from Mr. Cooper, and such use will have no impact on any loan application to Mr. Cooper.
- This is an advertisement and not intended as a solicitation for agent representation if your property is currently listed with an agent. Visit Xome's licensing page https://www.xome.com/auctions/licensing.
- Xome Inc. & Xome CT LLC [Davis E. Owen, Sr.‐Broker] (for CT properties] & Xome PR LLC (for PR properties), 750 Hwy 121 BYP, Suite 100, Lewisville, TX 75067.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.
- This is not a commitment to lend. All loans are subject to credit and property approval. This offer is nontransferable and may not be combined with any other mortgage offer. Advertised offer is subject to change. If a personal code is present on the advertised offer, you must provide such code to claim the offer. We may gather information about you including, but not limited to, credit bureau information, information for verification of income, information for appraisal and verification of property being used for collateral. We also verify your identity. Income, assets, and debt must meet eligibility requirements as established by Government and/or Lender guidelines.