Understanding the Boise, ID Housing Landscape
Thinking about buying a home in Boise? Congratulations! You selected an energetic city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers nationwide and have the inside scoop on Boise's housing scene.
Boise'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. Ongoing economic growth and cultural expansion have helped to attract retirees, new businesses, and young families to the Boise area, but so much change also means more traffic, more competition, and a need for more schools. Despite this, Boise and its nearby areas still offer a variety of home styles and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When looking to buy a house in Boise, consider the home's location in relation to your everyday activities. If possible, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Traveling around Boise will also give you an idea of why homes in west Boise are priced differently than homes in east Boise, where to find Boise's most popular attractions, and what the neighborhoods are like.
Are your finances in the right place to buy a home in Boise? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade and try our best to make the journey easier and more rewarding. You could choose to buy a home in Idaho or elsewhere. We support first-time homeowners and experienced 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 Boise.
Before anything else, calculate how much house you can buy. This will help determine the price range for your Boise house hunt. Next, map out your 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 Boise averages will usually give you a solid estimate, though everyone's situation is different. 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. Placing a minimum of 20% down can increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. At this stage, getting pre-approved for a loan can be extremely helpful. Pre-approval 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 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 who doesn't want more choices in life?
It's Go Time! Buy a House in Boise, ID
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 moving can also be incredibly rewarding, especially when you get to live in an amazing city like Boise. Contact Mr. Cooper as you prepare to buy a house in Boise.