What to Know Before Buying a Home in Hilton Head Island, SC

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Exploring Hilton Head Island, SC From North to South

Thinking about buying a home in Hilton Head Island? Congratulations! You picked a colorful city with a great balance of businesses, schools, restaurants 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 Hilton Head Island housing market.

Given all of South Carolina's growth, Hilton Head Island homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Hilton Head Island area, but so much change also means a strain on housing options, school capacities, and city roads. That said, Hilton Head Island and its nearby areas still offer a variety of homes in price and amenities. You can find single-family homes, condos, townhomes, and (hopefully) your dream house! When buying a home in Hilton Head Island, 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. Your home's location will influence almost every aspect of your life. Discovering different parts of Hilton Head Island will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Hilton Head Island's hottest attractions.

Are you financially prepared to buy a house in Hilton Head Island? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in South Carolina or elsewhere. We work with first-time homeowners and experienced homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Hilton Head Island.

Before anything else, estimate how much house you can afford. This will help you narrow your search when house hunting in Hilton Head Island. After that, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). You don't need an exact amount for these expenses. While everyone's situation is different, an online search for Hilton Head Island averages will usually give you some solid estimates. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, 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 favorable rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. 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 an important part of 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 Hilton Head Island, SC

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Hilton Head Island, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Hilton Head Island. 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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