What to Know Before Buying a Home in Pomona, CA

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

Thinking about buying a home in Pomona? Awesome! You selected a vibrant 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 support 3.8 million customers across the country and know the Pomona housing market well.

Given all of California's growth, Pomona homes aren't always easy to find at a comfortable price. Ongoing cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Pomona area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Pomona and the surrounding areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream house! When buying a home in Pomona, 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 house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Pomona will also help you get a feel for how homes in east Pomona differ from west Pomona, where to find Pomona's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Pomona? 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. It doesn't matter whether you want to buy a home in California or somewhere else entirely. We work with first-time homeowners and experienced homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Pomona.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Pomona. 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. Everyone's situation will differ, but a quick online search for average expenses in Pomona will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, consider how much you can contribute to a down payment. Placing a minimum of 20% down can 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. This is where getting prequalified for a mortgage comes in handy. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Credit history is an important part of your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

It's Go Time! Buy a House in Pomona, CA

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Pomona, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Pomona. We're here for you every step of 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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