What to Know Before Buying a Home in Fallon, NV

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Exploring Fallon, NV From North to South

Ready to lay down some roots and buy a house in Fallon? Congratulations! You picked a lively city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers across the country and know the Fallon housing market well.

Fallon'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 entrepreneurs, retirees, and new graduates to the Fallon area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Fallon and its nearby areas still offer a variety of homes in price and amenities. You can find single-family homes, condos, townhomes, and (hopefully) your perfect home! When buying a home in Fallon, consider the home's location in relation to your everyday activities. If you can, 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 Fallon will also give you an idea of why homes in west Fallon are priced differently than homes in east Fallon, what the neighborhoods are like, and where to find Fallon's hottest attractions.

Are your finances in the right place to buy a home in Fallon? 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 work to make the journey less worrisome and more rewarding every step of the way. You don't even have to stick with your decision to buy a house in Fallon. 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 Fallon.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Fallon. Then, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Searching the web for Fallon 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.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, 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, 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 Fallon, NV

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Fallon. Contact Mr. Cooper as you look to buy a home in Fallon. 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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