The Process of Buying a Home in Santa Cruz, CA

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Exploring Santa Cruz, CA From North to South

Thinking about buying a home in Santa Cruz? Great idea! You've chosen a lively city with a great balance of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers nationwide and know the Santa Cruz housing market well.

Santa Cruz'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. Continued support for local businesses and cultural growth have helped to beckon entrepreneurs, retirees, and new graduates to the Santa Cruz area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Santa Cruz and its nearby areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream house! When buying a home in Santa Cruz, consider how near or far away the home is from the places you visit most. 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. Exploring Santa Cruz will also help you get a feel for how homes in east Santa Cruz differ from west Santa Cruz, what the neighborhoods are like, and where to find Santa Cruz's hottest attractions.

You're ready to buy a house in Santa Cruz, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Santa Cruz. We work with new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Santa Cruz.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Santa Cruz house hunt. After that, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Santa Cruz will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, look at how much money you can put toward a down payment. Putting at least 20% down will increase your odds of getting a good 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 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!

It's Go Time! Buy a House in Santa Cruz, 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 Santa Cruz. Contact Mr. Cooper as you look to buy a home in Santa Cruz. 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.*

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