What to Know Before Buying a Home in San Francisco, CA

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Exploring San Francisco, CA From North to South

Strongly considering a home purchase in San Francisco? Awesome! You picked a lively city with an ideal amount 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 know the San Francisco housing market well.

Given all of California's growth, San Francisco homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to beckon entrepreneurs, retirees, and new graduates to the San Francisco area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, San Francisco and the surrounding areas still offer a variety of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream home! When looking to buy a house in San Francisco, 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. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring San Francisco will also help you get a feel for how homes in east San Francisco differ from west San Francisco, what the communities are like, and where to find San Francisco's coolest attractions.

You're ready to buy a house in San Francisco, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 see if you're in a good financial position to buy a house in San Francisco.

Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in San Francisco. Next, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for San Francisco averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, look at how much money you can put toward a down payment. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, 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 will give you an idea of how much you might qualify to borrow. Also, check your credit. 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?

Move Up and Out: Buying Your Dream House in San Francisco, 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 San Francisco, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in San Francisco. 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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