What to Know Before Buying a Home in Greenwood, SC

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Get Familiar with the Lay of the Land in Greenwood, SC

Strongly considering a home purchase in Greenwood? Congratulations! You picked a colorful city with a dynamic selection of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Greenwood housing market.

Greenwood'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 cultural expansion and economic growth have helped to attract retirees, new businesses, and young families to the Greenwood area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Greenwood and its nearby areas still offer a wide range of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream home! When buying a house in Greenwood, 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. Your house's location will affect everything, from your morning routine to how you spend your evenings. Discovering different parts of Greenwood will help you see how the northern part differs from the southern part, where to find Greenwood's most popular attractions, and what the neighborhoods are like.

You're ready to buy a house in Greenwood, 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. It doesn't matter whether you want to buy a home in South Carolina or somewhere else entirely. We help 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 Greenwood.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Greenwood. After that, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Searching the web for Greenwood averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

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

It's Go Time! Buy a House in Greenwood, SC

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Greenwood. Contact Mr. Cooper as you look to buy a home in Greenwood. We're here to help you along 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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