What to Know Before Buying a Home in Winston-Salem, NC

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Exploring Winston-Salem, NC From North to South

Strongly considering a home purchase in Winston-Salem? Smart move! You picked a lively city with an ideal amount 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 across the country and know the Winston-Salem housing market well.

Given all of North Carolina's growth, Winston-Salem homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to entice retirees, new businesses, and young families to the Winston-Salem area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Winston-Salem and its nearby areas still offer a wide range of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your perfect home! When buying a house in Winston-Salem, consider how near or far away the home is from the places you visit most. If possible, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Winston-Salem will also give you an idea of why homes in west Winston-Salem are priced differently than homes in east Winston-Salem, what the neighborhoods are like, and where to find Winston-Salem's hottest attractions.

You're ready to buy a house in Winston-Salem, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive 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 serve new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Winston-Salem.

First, estimate how much house you can afford. This will help you narrow your search when house hunting in Winston-Salem. 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. Everyone's situation will differ, but a quick online search for average expenses in Winston-Salem will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. 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 more options are always good!

Make Your Move: Buy a Home in Winston-Salem, 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 Winston-Salem, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Winston-Salem. We're here for you every step of the way 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 Customer Reviews for Winston-Salem, NC

Take it from these Mr. Cooper home buyers and sellers in Winston-Salem, NC: We love helping homeowners. Call now to see how we can serve you.

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