What to Know Before Buying a Home in Gresham, OR

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Get Familiar with the Lay of the Land in Gresham, OR

Strongly considering a home purchase in Gresham? Congratulations! You selected a vibrant city with a great balance of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers nationwide and have the inside scoop on Gresham's housing scene.

Gresham's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Continued economic growth and cultural expansion have helped to attract retirees, new businesses, and young families to the Gresham area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Gresham and the surrounding areas still offer an array of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream home! When buying a house in Gresham, consider the home's location in relation to your everyday activities. If you can, 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. Exploring Gresham will also help you get a feel for how homes in east Gresham differ from west Gresham, where to find Gresham's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Gresham? 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 don't even have to stick with your decision to buy a house in Gresham. We help new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Gresham.

First, estimate how much house you can afford. This will help determine the price range for your Gresham house hunt. Next, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Searching the web for Gresham averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, look at how much money you can put toward a down payment. Putting at least 20% down will improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. 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, 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 Gresham, OR

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 Gresham. Contact Mr. Cooper as you get ready to buy a house in Gresham. We're here to help you along the way 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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