What to Know Before Buying a Home in Murphy, NC

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

Thinking about buying a home in Murphy? Awesome! You picked a lively city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Murphy housing market.

Murphy is growing by the day, which means Murphy homes don't always come cheap. Continued economic growth and cultural expansion have helped to entice young families, new businesses, and retirees to the Murphy area, but so much change also means more traffic, more competition, and a need for more schools. That said, Murphy and the surrounding areas still offer a wide range of home styles and prices. You can find single-family homes, condos, townhomes, and (ideally) your perfect home! When looking to buy a house in Murphy, consider the home's location in relation to your everyday activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Traveling around Murphy will also give you an idea of why homes in west Murphy are priced differently than homes in east Murphy, what the neighborhoods are like, and where to find Murphy's hottest attractions.

You're ready to buy a house in Murphy, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade 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 Murphy. We work with first-time homeowners 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 Murphy.

Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in Murphy. Next, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Murphy will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, consider how much you can contribute to a down payment. Placing a minimum of 20% down can boost 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. 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 an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

Make Your Move: Buy a Home in Murphy, 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 Murphy. Contact Mr. Cooper as you look to buy a home in Murphy. 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.*

Mr. Cooper Reviews from Real Customers in Murphy, NC

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Simplify the home buying or selling process in Murphy with Mr. Cooper.

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