What to Know Before Buying a Home in Fayetteville, NC

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Exploring Fayetteville, NC From North to South

Thinking about buying a home in Fayetteville? Awesome! You picked 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 Fayetteville's housing scene.

Fayetteville'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 beckon retirees, new businesses, and young families to the Fayetteville area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Fayetteville and its neighboring areas still offer an array of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When buying a house in Fayetteville, double check that you're factoring in the home's distance from your daily activities. If possible, 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. Exploring Fayetteville will also help you get a feel for how homes in east Fayetteville differ from west Fayetteville, what the communities are like, and where to find Fayetteville's coolest attractions.

Are you financially prepared to buy a house in Fayetteville? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home 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 Fayetteville. We support 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 Fayetteville.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Fayetteville. After that, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Fayetteville will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, look at how much money you can put toward a down payment. Putting at least 20% down will increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. Credit history is an important part of 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 Fayetteville, NC

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Fayetteville. Contact Mr. Cooper as you prepare to buy a house in Fayetteville. We're here to help you along 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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