What to Know Before Buying a Home in Wilmington Island, GA

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Get Familiar with the Lay of the Land in Wilmington Island, GA

Strongly considering a home purchase in Wilmington Island? Smart move! You picked a lively city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help make your home purchase and move a little easier. We serve 3.8 million customers nationwide and have the inside scoop on Wilmington Island's housing scene.

Wilmington Island is growing by the day, which means Wilmington Island homes don't always come cheap. Continued economic growth and cultural expansion have helped to entice entrepreneurs, retirees, and new graduates to the Wilmington Island area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Wilmington Island and its neighboring areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream house! When looking to buy a house in Wilmington Island, consider the home's location in relation to your everyday activities. 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. Traveling around Wilmington Island will also give you an idea of why homes in west Wilmington Island are priced differently than homes in east Wilmington Island, what the neighborhoods are like, and where to find Wilmington Island's hottest attractions.

Are you financially prepared to buy a house in Wilmington Island? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home 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 Wilmington Island. We work with first-time homeowners and experienced homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Wilmington Island.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Wilmington Island. After that, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Searching the web for Wilmington Island averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Getting prequalified will give you an idea of how much you might qualify 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. 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 Wilmington Island, GA

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 Wilmington Island. Contact Mr. Cooper as you get ready to buy a house in Wilmington Island. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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