What to Know Before Buying a Home in Thomasville, NC

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Understanding the Thomasville, NC Housing Landscape

Ready to lay down some roots and buy a house in Thomasville? Congratulations! You've chosen an energetic city with a dynamic selection of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers across the country and know the Thomasville housing market well.

Thomasville is growing by the day, which means Thomasville homes don't always come cheap. Continued support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Thomasville area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Thomasville and its neighboring areas still offer a wide range of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your perfect home! When looking to buy a house in Thomasville, 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. Traveling around Thomasville will also give you an idea of why homes in west Thomasville are priced differently than homes in east Thomasville, what the neighborhoods are like, and where to find Thomasville's hottest attractions.

Are your finances in the right place to buy a home in Thomasville? 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. It doesn't matter whether you want to buy a home in North Carolina or somewhere else entirely. We work with experienced homeowners and first-time 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 Thomasville.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Thomasville. After that, 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 Thomasville averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). That said, 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. Lenders place a high importance on credit history when looking at 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 Thomasville, NC

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Thomasville, moving doesn't seem so challenging. Contact Mr. Cooper as you look to buy a home in Thomasville. We're here to help you along 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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