What to Know Before Buying a Home in Corvallis, OR

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Understanding the Corvallis, OR Housing Landscape

Strongly considering a home purchase in Corvallis? Great idea! You picked a lively city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers from coast to coast and have the inside scoop on Corvallis's housing scene.

Given all of Oregon's growth, Corvallis homes aren't always easy to find at a comfortable price. Continued economic growth and cultural expansion have helped to beckon entrepreneurs, retirees, and new graduates to the Corvallis area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Corvallis and the surrounding areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your perfect home! When buying a home in Corvallis, consider how near or far away the home is from the places you visit most. If possible, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Discovering different parts of Corvallis will help you see how the northern part differs from the southern part, what the communities are like, and where to find Corvallis's coolest attractions.

You're ready to buy a house in Corvallis, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Oregon or elsewhere. We support experienced homeowners and first-time homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Corvallis.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Corvallis house hunt. After that, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Corvallis averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, look at how much money you can put toward a down payment. Placing a minimum of 20% down can improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, the required down payment will depend on the type of loan you get. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at your credit. 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 options are always a good thing!

Make Your Move: Buy a Home in Corvallis, OR

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 Corvallis. Contact Mr. Cooper as you get ready to buy a house in Corvallis. We're here for you from start to finish 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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