Exploring Oakland, CA From North to South
Ready to lay down some roots and buy a house in Oakland? Smart move! You selected an energetic city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers nationwide and have the inside scoop on Oakland's housing scene.
Oakland'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. Sustained economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the Oakland area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Oakland and the surrounding areas still offer an array of homes in price and amenities. You can find single-family homes, condos, townhomes, and (ideally) your dream house! When looking to buy a house in Oakland, consider how near or far away the home is from the places you visit most. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Exploring Oakland will also help you get a feel for how homes in east Oakland differ from west Oakland, where to find Oakland's most popular attractions, and what the neighborhoods are like.
You're ready to buy a house in Oakland, but is your bank account? 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 every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in California or elsewhere. We serve experienced homeowners and first-time homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Oakland.
First, calculate how much house you can afford. This will help you narrow your search when house hunting in Oakland. Then, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. Searching the web for Oakland 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, consider how much you can contribute to a down payment. Putting at least 20% down will boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified will give you an idea of how much you might qualify 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?
It's Go Time! Buy a House in Oakland, 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 Oakland. Contact Mr. Cooper as you look to buy a home in Oakland.