The Process of Buying a Home in Carrboro, NC

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Get Familiar with the Lay of the Land in Carrboro, NC

Strongly considering a home purchase in Carrboro? Smart move! You selected a colorful city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your home purchase and move a little easier. We service 3.8 million customers across the country and know the Carrboro housing market well.

Carrboro'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. Ongoing support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Carrboro area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. That said, Carrboro and its neighboring areas still offer an array of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your perfect home! When buying a home in Carrboro, consider the home's location in relation to your everyday activities. If possible, 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 Carrboro will also help you get a feel for how homes in east Carrboro differ from west Carrboro, where to find Carrboro's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in Carrboro? 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 could choose to buy a home in North Carolina or elsewhere. We work with 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 Carrboro.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Carrboro. Next, add up the 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 Carrboro averages will usually give you some solid estimates. 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 great rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. 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. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

It's Go Time! Buy a House in Carrboro, NC

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Carrboro. Contact Mr. Cooper as you get ready to buy a house in Carrboro. We're here for you from start to finish 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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