Nova Rancho Cucamonga Home Buying FAQ

Have questions about buying a home? You're not the only one.
Down Payments
HOA Fees
Credit Score
Property Taxes
Mortgage Payments
the fundamentals of your new home purchase
Buying a home is the most significant purchase most of us will ever make – which makes just starting the process a daunting undertaking at times.

Here are just a few of the question buyers have been asking us and some quick answers to help us keep the conversation going on your purchase at Nova Rancho Cucamonga.
How much money do I need to save for a down payment?

A common misconception is that buyers must have a substantial down payment to purchase a new home. Today’s reality is that a variety of programs exist to help buyers reduce the down payment amount and, in some circumstances, depending on available programs and subject to qualification, buyers may even be able to put $0 down!

What’s an HOA and why do I pay for it?

HOA stands for “Homeowners Association”. In residential communities with an HOA, owners are required to pay a monthly fee to the HOA to cover costs including the cost of short and long term upkeep for common areas and services such as streets, parks, landscaping and community recreation centers. These costs can vary. Please call our Homebuying Counselor for additional information.


How good does my credit score need to be to be approved for a loan?

A good credit score does help with qualifying for a home loan. However, if your credit score isn’t where you want it to be, you may still be able to purchase a home. Lenders work with buyers at all levels of credit score and, if you have some time before you purchase, you can take certain actions now that may improve your credit score by the time you are ready to purchase. You can also have a trusted family member or friend co-sign on the loan to make the process easier.


Who should I reach out to to become pre-qualified to purchase?

If you are ready to pre-qualify or have questions about the process, our preferred lending partner is loanDepot. You can contact our Loan Consultant, Jeanne Ball at or (909) 912-7855.
Please note that pre-qualification is only a preliminary qualification based on limited information and you will have to go through a more detailed qualification process to obtain final loan approval.

What are property taxes, and what is Mello-Roos?

The  term property taxes actually includes a variety of different taxes and assessments charged against real property including, but not limited to a tax on the value of the property, various fees and costs of maintenance of certain public facilities assessments, and Mello-Roos special taxes.

All homes at Nova Rancho Cucamonga are also part of a Mello Roos district and pay an additional tax as a result.  Mello-Roos special taxes generally finance the construction of  infrastructure improvements such as roads, utilities etc. A special tax notice describing the districts and related special taxes is available in the sales office.

Will mortgage payments be much more than my rent?

Depending on the amount of down payment and loan terms, mortgage payments at Nova Rancho Cucamonga may be comparable to monthly rent for a two bedroom residence apartment in the Rancho Cucamonga area. Depending on down payment and loan terms, monthly payments could range between roughly $2,300 and $2,700 – inclusive of all HOA fees, property taxes, etc . Also, there may be tax advantages to home ownership to consider. Contact your CPA (Certified Public Accountant) to learn more!


Reach out to our Homebuying Counselor David Stepanian at or (909) 330-0631.

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