Understanding the Morganton, NC Housing Landscape
Ready to lay down some roots and buy a house in Morganton? Awesome! You selected a colorful city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers across the country and have the inside scoop on Morganton's housing scene.
Morganton'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 support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Morganton area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Morganton and its nearby areas still offer a variety of homes in price and amenities. You can find single-family homes, condos, townhomes, and (ideally) your dream house! When buying a house in Morganton, 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 home's location will influence almost every aspect of your life. Discovering different parts of Morganton will help you see how the northern part differs from the southern part, where to find Morganton's most popular attractions, and what the neighborhoods are like.
Are you financially prepared to buy a house in Morganton? 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 every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Morganton. We serve new and experienced homeowners alike. Walk through the following steps to help you see if you're in a good financial position to buy a house in Morganton.
Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Morganton. After that, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Searching the web for Morganton 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.
Next, look at how much money you can put toward a down payment. A down payment of at least 20% can help increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. 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, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!
Move Up and Out: Buying Your Dream House in Morganton, 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 Morganton. Contact Mr. Cooper as you get ready to buy a house in Morganton. 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.*
- Buyer’s Bonus Credit is not available in AK, IA, KS, LA, MS, MO, OK, OR & TN.
- Mr. Cooper Real Estate Rewards is a service mark of Nationstar Mortgage LLC.