What to Know Before Buying a Home in Centennial, CO

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Understanding the Centennial, CO Housing Landscape

Ready to lay down some roots and buy a house in Centennial? Congratulations! You selected a lively city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers nationwide and know the Centennial housing market well.

Given all of Colorado's growth, Centennial homes aren't always easy to find at a comfortable price. Ongoing cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Centennial area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Centennial and its nearby areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your perfect home! When buying a house in Centennial, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Centennial will also give you an idea of why homes in west Centennial are priced differently than homes in east Centennial, what the communities are like, and where to find Centennial's coolest attractions.

Are your finances in the right place to buy a home in Centennial? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Colorado or somewhere else entirely. We work with 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 Centennial.

First, calculate how much house you can afford. This will help determine the price range for your Centennial house hunt. After that, add up the potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. Everyone's situation will differ, but a quick online search for average expenses in Centennial will usually point you in the right direction. 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. A down payment of at least 20% can help increase your odds of getting a good 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. 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, consider your credit profile. 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!

Make Your Move: Buy a Home in Centennial, CO

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But when you get to live in a stellar city like Centennial, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Centennial. We're here for you from start to finish 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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