The Process of Buying a Home in Wilmington, NC

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Understanding the Wilmington, NC Housing Landscape

Strongly considering a home purchase in Wilmington? Congratulations! You selected a vibrant city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We serve 3.8 million customers from coast to coast and are familiar with the ins-and-outs of the Wilmington housing market.

Wilmington is growing by the day, which means Wilmington homes don't always come cheap. Sustained cultural expansion and economic growth have helped to beckon retirees, new businesses, and young families to the Wilmington area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Wilmington and its neighboring areas still offer a variety of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your perfect home! When buying a home in Wilmington, consider how near or far away the home is from the places you visit most. If you can, test drive your route 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 Wilmington will also give you an idea of why homes in west Wilmington are priced differently than homes in east Wilmington, where to find Wilmington's most popular attractions, and what the neighborhoods are like.

Are your finances in the right place to buy a home in Wilmington? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade 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 serve 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 Wilmington.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Wilmington. Then, map out your potential monthly payments (including property taxes, insurance, home repairs, homeowners association fees, etc.). You don't need an exact amount for these expenses. Searching the web for Wilmington averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, look at how much money you can put toward a down payment. Putting at least 20% down will improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, 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, 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 options are always a good thing!

Move Up and Out: Buying Your Dream House in Wilmington, NC

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving feels more rewarding when you get to live in a place like Wilmington. Contact Mr. Cooper as you look to buy a home in Wilmington. 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.*

Wilmington, NC Mr. Cooper Customer Reviews

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

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