What to Know Before Buying a Home in Raleigh, NC

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Exploring Raleigh, NC From North to South

Ready to lay down some roots and buy a house in Raleigh? Awesome! You selected 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 Raleigh housing market.

Raleigh'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 support for local businesses and cultural growth have helped to attract retirees, new businesses, and young families to the Raleigh area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Raleigh and the surrounding areas still offer an array 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 Raleigh, double check that you're factoring in the home's distance from your daily activities. If possible, 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. Exploring Raleigh will also help you get a feel for how homes in east Raleigh differ from west Raleigh, where to find Raleigh's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Raleigh? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 don't even have to stick with your decision to buy a house in Raleigh. We support new and experienced homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Raleigh.

First, estimate how much house you can afford. This will help you set a price range while house shopping in Raleigh. Next, map out 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 Raleigh 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.

Next, consider how much you can contribute to a down payment. Putting at least 20% down will 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. 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. 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 Raleigh, 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 Raleigh, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Raleigh. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

Mr. Cooper Reviews from Real Customers in Raleigh, NC

Read real stories from real Mr. Cooper home buyers and sellers in Raleigh, NC. Then contact us to see what we can do for you.

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