What to Know Before Buying a Home in Riverside, CA

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

Thinking about buying a home in Riverside? Great idea! You've chosen a vibrant city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers nationwide and are familiar with the ins-and-outs of the Riverside housing market.

Riverside'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 support for local businesses and cultural growth have helped to attract young families, new businesses, and retirees to the Riverside area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Riverside and its nearby areas still offer a wide range of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When buying a house in Riverside, 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. The location of your house will impact virtually every part of your life. Traveling around Riverside will also give you an idea of why homes in west Riverside are priced differently than homes in east Riverside, what the communities are like, and where to find Riverside's coolest attractions.

Are you financially prepared to buy a house in Riverside? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in California or somewhere else entirely. We support new 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 Riverside.

First, calculate how much house you can afford. This will help determine the price range for your Riverside house hunt. Next, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Riverside averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Now, figure out what a realistic down payment would be for you. Putting at least 20% down will boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, 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, check 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 more options are always good!

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

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Riverside, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Riverside. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

Mr. Cooper Reviews from Real Customers in Riverside, CA

Take it from these Mr. Cooper home buyers and sellers in Riverside, CA: We love helping homeowners. Call now to see how we can serve you.

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