The Process of Buying a Home in Washington, NC

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

Strongly considering a home purchase in Washington? Awesome! You picked a lively city with a great balance of educational opportunities, businesses, and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers from coast to coast and know the Washington housing market well.

Washington is growing by the day, which means Washington homes don't always come cheap. Sustained support for local businesses and cultural growth have helped to attract retirees, new businesses, and young families to the Washington area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Washington and the surrounding areas still offer a variety of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When buying a house in Washington, consider how near or far away the home is from the places you visit most. If you can, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Washington will also give you an idea of why homes in west Washington are priced differently than homes in east Washington, what the neighborhoods are like, and where to find Washington's hottest attractions.

Are you financially prepared to buy a house in Washington? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. 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 Washington. We help new and experienced homeowners alike. Start with the following steps to help you see if you're in a good financial position to buy a house in Washington.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Washington. Then, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Washington 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.

Now, figure out what a realistic down payment would be for you. Placing a minimum of 20% down can increase 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. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. Credit history is one of the main factors that lenders look at when considering 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 Washington, 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 Washington, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Washington. 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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