What to Know Before Buying a Home in Newton, NC

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

Ready to lay down some roots and buy a house in Newton? Awesome! You've chosen a lively city with a great balance of businesses, schools, restaurants and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers nationwide and are familiar with the ins-and-outs of the Newton housing market.

Newton'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 young families, new businesses, and retirees to the Newton area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Newton and the surrounding areas still offer a variety of home styles and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When looking to buy a house in Newton, consider the home's location in relation to your everyday 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. Traveling around Newton will also give you an idea of why homes in west Newton are priced differently than homes in east Newton, where to find Newton's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Newton? 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 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 support 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 Newton.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Newton. Next, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Newton averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Then, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can boost your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, 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. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and options are always a good thing!

Make Your Move: Buy a Home in Newton, NC

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Newton. Contact Mr. Cooper as you get ready to buy a house in Newton. 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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