What to Know Before Buying a Home in High Point, NC

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Understanding the High Point, NC Housing Landscape

Thinking about buying a home in High Point? Congratulations! You picked an energetic 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 service 3.8 million customers nationwide and are familiar with the ins-and-outs of the High Point housing market.

High Point'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 attract entrepreneurs, retirees, and new graduates to the High Point area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, High Point and its neighboring areas still offer a variety of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your dream home! When looking to buy a house in High Point, double check that you're factoring in the home's distance from your daily 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. Exploring High Point will also help you get a feel for how homes in east High Point differ from west High Point, where to find High Point's most popular attractions, and what the neighborhoods are like.

Are you financially prepared to buy a house in High Point? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. 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 High Point. We help experienced homeowners and first-time homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in High Point.

First, estimate how much house you can afford. This will help determine the price range for your High Point house hunt. After that, jot down your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). No need to have an exact amount. Searching the web for High Point 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, consider how much you can contribute to a down payment. Placing a minimum of 20% down can improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, the required down payment will depend on the type of loan you get. At this stage, getting prequalified for a loan can be extremely helpful. 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. 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 who doesn't want more choices in life?

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

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like High Point, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in High Point. 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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