The Process of Buying a Home in Van Nuys, CA

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Understanding the Van Nuys, CA Housing Landscape

Strongly considering a home purchase in Van Nuys? Smart move! You've chosen a colorful city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers from coast to coast and know the Van Nuys housing market well.

Van Nuys is growing by the day, which means Van Nuys homes don't always come cheap. Sustained support for local businesses and cultural growth have helped to entice young families, new businesses, and retirees to the Van Nuys area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Van Nuys and its neighboring 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 buying a home in Van Nuys, consider how near or far away the home is from the places you visit most. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Van Nuys will help you see how the northern part differs from the southern part, where to find Van Nuys's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Van Nuys? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Van Nuys. We work with first-time homeowners and experienced homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Van Nuys.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Van Nuys. 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. Searching the web for Van Nuys averages will usually give you a solid estimate, though everyone's situation is different. 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 favorable 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. Here's where it can help to get prequalified for a mortgage. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. Credit history is one of the main factors that lenders look at when considering your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

It's Go Time! Buy a House in Van Nuys, 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 Van Nuys. Contact Mr. Cooper as you prepare to buy a house in Van Nuys. 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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