What to Know Before Buying a Home in Clovis, NM

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Understanding the Clovis, NM Housing Landscape

Thinking about buying a home in Clovis? Congratulations! You picked an energetic city with an ideal amount 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 across the country and are familiar with the ins-and-outs of the Clovis housing market.

Clovis is growing by the day, which means Clovis homes don't always come cheap. Continued support for local businesses and cultural growth have helped to beckon entrepreneurs, retirees, and new graduates to the Clovis area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Clovis and its nearby areas still offer an array of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a home in Clovis, consider how near or far away the home is from the places you visit most. If possible, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Clovis will also give you an idea of why homes in west Clovis are priced differently than homes in east Clovis, what the communities are like, and where to find Clovis's coolest attractions.

Are you financially prepared to buy a house in Clovis? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We think the dream of homeownership should never fade and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in New Mexico or elsewhere. We help experienced homeowners and first-time 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 Clovis.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Clovis. Then, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Clovis averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, consider how much you can contribute to a down payment. Putting at least 20% down will boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. 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 healthier your credit is, the more mortgage options you may have open to you— and more options are always good!

It's Go Time! Buy a House in Clovis, NM

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Clovis. Contact Mr. Cooper as you look to buy a home in Clovis. 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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