What to Know Before Buying a Home in Kannapolis, NC

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Understanding the Kannapolis, NC Housing Landscape

Thinking about buying a home in Kannapolis? Awesome! You picked a vibrant city with an ideal amount of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers from coast to coast and have the inside scoop on Kannapolis's housing scene.

Kannapolis'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. Sustained economic growth and cultural expansion have helped to attract retirees, new businesses, and young families to the Kannapolis area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Kannapolis and the surrounding areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your dream home! When buying a house in Kannapolis, double check that you're factoring in the home's distance from your daily activities. If you can, test drive your route to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Discovering different parts of Kannapolis will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Kannapolis's hottest attractions.

Are your finances in the right place to buy a home in Kannapolis? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe in keeping the dream of homeownership alive 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 serve first-time homeowners and experienced homeowners alike. Walk through the following steps to help you figure out if your finances are in the right place to buy a house in Kannapolis.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Kannapolis. Then, add up the potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Kannapolis 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. 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 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 an important part of 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 Kannapolis, NC

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Kannapolis, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Kannapolis. We're here for you every step of 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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