The Process of Buying a Home in South Kingstown, RI

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Exploring South Kingstown, RI From North to South

Thinking about buying a home in South Kingstown? Great idea! You selected a colorful 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 across the country and are familiar with the ins-and-outs of the South Kingstown housing market.

South Kingstown is growing by the day, which means South Kingstown homes don't always come cheap. Sustained support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the South Kingstown area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, South Kingstown and the surrounding areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream home! When buying a home in South Kingstown, double check that you're factoring in the home's distance from your daily activities. 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. Exploring South Kingstown will also help you get a feel for how homes in east South Kingstown differ from west South Kingstown, what the communities are like, and where to find South Kingstown's coolest attractions.

You're ready to buy a house in South Kingstown, but is your bank account? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. You could choose to buy a home in Rhode Island 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 South Kingstown.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in South Kingstown. Next, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in South Kingstown 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.

Then, look at how much money you can put toward a down payment. 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, down payment requirements can differ depending on the loan type. 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, consider your credit profile. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in South Kingstown, RI

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But moving feels more rewarding when you get to live in a place like South Kingstown. Contact Mr. Cooper as you get ready to buy a house in South Kingstown. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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