Exploring Reno, NV From North to South
Ready to lay down some roots and buy a house in Reno? Awesome! You picked a lively city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers across the country and know the Reno housing market well.
Given all of Nevada's growth, Reno homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to attract young families, new businesses, and retirees to the Reno area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Reno and the surrounding areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When buying a home in Reno, double check that you're factoring in the home's distance from your daily activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Discovering different parts of Reno will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Reno's hottest attractions.
Are your finances in the right place to buy a home in Reno? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Nevada or elsewhere. We help new 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 Reno.
First, calculate how much house you can afford. This will help determine the price range for your Reno house hunt. Next, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Reno will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.
Then, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can improve 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. 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. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!
Move Up and Out: Buying Your Dream House in Reno, NV
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 Reno, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Reno.