What to Know Before Buying a Home in Gaffney, SC

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Exploring Gaffney, SC From North to South

Strongly considering a home purchase in Gaffney? Great idea! You selected 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 are familiar with the ins-and-outs of the Gaffney housing market.

Gaffney's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Continued support for local businesses and cultural growth have helped to beckon retirees, new businesses, and young families to the Gaffney area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Gaffney and its nearby areas still offer an array of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When buying a home in Gaffney, consider the home's location in relation to your everyday activities. If possible, test drive your trip from the house to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Traveling around Gaffney will also give you an idea of why homes in west Gaffney are priced differently than homes in east Gaffney, what the communities are like, and where to find Gaffney's coolest attractions.

You're ready to buy a house in Gaffney, but is your bank account? If you're not sure how to answer that question, contact a Mr. Cooper Mortgage Professional. We believe everyone can find their dream home 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 Gaffney. We work with first-time homeowners 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 Gaffney.

Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in Gaffney. Then, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. Searching the web for Gaffney averages will usually give you a solid estimate, though everyone's situation is different. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. 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, check your credit. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

Move Up and Out: Buying Your Dream House in Gaffney, SC

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 Gaffney. Contact Mr. Cooper as you look to buy a home in Gaffney. 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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