What to Know Before Buying a Home in Novato, CA

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Understanding the Novato, CA Housing Landscape

Thinking about buying a home in Novato? Smart move! You picked an energetic city with a great balance of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers from coast to coast and know the Novato housing market well.

Novato is growing by the day, which means Novato homes don't always come cheap. Ongoing economic growth and cultural expansion have helped to entice entrepreneurs, retirees, and new graduates to the Novato area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Novato and its nearby areas still offer an array of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream home! When looking to buy a house in Novato, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Exploring Novato will also help you get a feel for how homes in east Novato differ from west Novato, what the communities are like, and where to find Novato's coolest attractions.

Are your finances in the right place to buy a home in Novato? 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 support new and experienced homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Novato.

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

Next, figure out what a realistic down payment would be for you. Putting at least 20% down will boost your odds of getting a good 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. 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, check your credit. 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!

Make Your Move: Buy a Home in Novato, 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 Novato. Contact Mr. Cooper as you get ready to buy a house in Novato. We're here for you from start to finish 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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