All About Buying a House in Hillsboro, OR

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Understanding the Hillsboro, OR Housing Landscape

Strongly considering a home purchase in Hillsboro? Smart move! You've chosen a colorful city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers across the country and are familiar with the ins-and-outs of the Hillsboro housing market.

Hillsboro'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. Sustained economic growth and cultural expansion have helped to attract entrepreneurs, retirees, and new graduates to the Hillsboro area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Hillsboro and the surrounding areas still offer a variety of home styles and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When buying a home in Hillsboro, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Discovering different parts of Hillsboro will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Hillsboro's hottest attractions.

Are you financially prepared to buy a house in Hillsboro? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Hillsboro. We support experienced homeowners and first-time homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Hillsboro.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Hillsboro. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Hillsboro 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, look at how much money you can put toward a down payment. Placing a minimum of 20% down can boost 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, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

Make Your Move: Buy a Home in Hillsboro, 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 Hillsboro. Contact Mr. Cooper as you prepare to buy a house in Hillsboro. We're here for you every step of 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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