The Process of Buying a Home in San Rafael, CA

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Understanding the San Rafael, CA Housing Landscape

Strongly considering a home purchase in San Rafael? Great idea! You picked a colorful city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the San Rafael housing market.

Given all of California's growth, San Rafael homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to beckon retirees, new businesses, and young families to the San Rafael area, but so much change also means a strain on housing options, school capacities, and city roads. That said, San Rafael and its nearby areas still offer a variety of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When looking to buy a house in San Rafael, double check that you're factoring in the home's distance from your daily activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Exploring San Rafael will also help you get a feel for how homes in east San Rafael differ from west San Rafael, what the communities are like, and where to find San Rafael's coolest attractions.

Are you financially prepared to buy a house in San Rafael? 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 don't even have to stick with your decision to buy a house in San Rafael. We help experienced homeowners and first-time 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 San Rafael.

First, estimate how much house you can afford. This will help determine the price range for your San Rafael house hunt. Then, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in San Rafael will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, consider how much you can contribute to a down payment. Putting at least 20% down will boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. 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, check your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

Move Up and Out: Buying Your Dream House in San Rafael, 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 San Rafael. Contact Mr. Cooper as you look to buy a home in San Rafael. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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