What to Know Before Buying a Home in Commerce City, CO

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Exploring Commerce City, CO From North to South

Thinking about buying a home in Commerce City? Congratulations! You picked a vibrant city with a great balance of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Commerce City housing market.

Commerce City'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. Sustained economic growth and cultural expansion have helped to attract retirees, new businesses, and young families to the Commerce City area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Commerce City and its neighboring areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream house! When buying a house in Commerce City, 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. Exploring Commerce City will also help you get a feel for how homes in east Commerce City differ from west Commerce City, what the neighborhoods are like, and where to find Commerce City's hottest attractions.

You're ready to buy a house in Commerce City, but is your bank account? 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 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 Commerce City. We serve 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 Commerce City.

First, estimate how much house you can afford. This will help determine the price range for your Commerce City house hunt. Then, 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. While everyone's situation is different, an online search for Commerce City averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Now, look at how much money you can put toward a down payment. Placing a minimum of 20% down can 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. At this stage, getting prequalified for a loan can be extremely helpful. 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 better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

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