What to Know Before Buying a Home in Bend, OR

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Understanding the Bend, OR Housing Landscape

Ready to lay down some roots and buy a house in Bend? Great idea! You selected a vibrant city with a great balance of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers from coast to coast and have the inside scoop on Bend's housing scene.

Given all of Oregon's growth, Bend homes aren't always easy to find at a comfortable price. Ongoing economic growth and cultural expansion have helped to entice entrepreneurs, retirees, and new graduates to the Bend area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Bend and its nearby areas still offer a variety of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your perfect home! When looking to buy a house in Bend, consider how near or far away the home is from the places you visit most. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Bend will also help you get a feel for how homes in east Bend differ from west Bend, where to find Bend's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Bend, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Oregon or somewhere else entirely. We support new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Bend.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Bend. Then, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Bend will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, look at how much money you can put toward a down payment. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, 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. 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 Bend, OR

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Bend, moving doesn't seem so challenging. Contact Mr. Cooper as you prepare to buy a house in Bend. 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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