What to Know Before Buying a Home in Taos, NM

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Get Familiar with the Lay of the Land in Taos, NM

Thinking about buying a home in Taos? Smart move! You've chosen a lively city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers across the country and are familiar with the ins-and-outs of the Taos housing market.

Given all of New Mexico's growth, Taos homes aren't always easy to find at a comfortable price. Continued cultural expansion and economic growth have helped to entice young families, new businesses, and retirees to the Taos area, but so much change also means more traffic, more competition, and a need for more schools. That said, Taos 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 looking to buy a house in Taos, consider how near or far away the home is from the places you visit most. If possible, 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 Taos will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Taos's hottest attractions.

You're ready to buy a house in Taos, 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 work to make every stage of the journey more enjoyable and less worrisome. It doesn't matter whether you want to buy a home in New Mexico or somewhere else entirely. 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 Taos.

First, estimate how much house you can afford. This will help determine the price range for your Taos house hunt. Then, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Taos 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.

Next, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Prequalification 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. You may be presented with more mortgage options if you have healthy credit— and who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Taos, NM

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 Taos. Contact Mr. Cooper as you look to buy a home in Taos. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

Mr. Cooper Reviews from Real Customers in Taos, NM

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Simplify the home buying or selling process in Taos with Mr. Cooper.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.