What to Know Before Buying a Home in Myrtle Beach, SC

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Exploring Myrtle Beach, SC From North to South

Thinking about buying a home in Myrtle Beach? Smart move! You selected a colorful 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 service 3.8 million customers across the country and are familiar with the ins-and-outs of the Myrtle Beach housing market.

Given all of South Carolina's growth, Myrtle Beach homes aren't always easy to find at a comfortable price. Sustained support for local businesses and cultural growth have helped to beckon entrepreneurs, retirees, and new graduates to the Myrtle Beach area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Myrtle Beach and the surrounding areas still offer an array of home styles and prices. You can find townhomes, condos, single-family homes, duplexes, and (hopefully) your dream house! When buying a house in Myrtle Beach, consider how near or far away the home is from the places you visit most. 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. Traveling around Myrtle Beach will also give you an idea of why homes in west Myrtle Beach are priced differently than homes in east Myrtle Beach, what the neighborhoods are like, and where to find Myrtle Beach's hottest attractions.

Are you financially prepared to buy a house in Myrtle Beach? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. 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 support experienced homeowners and first-time homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Myrtle Beach.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Myrtle Beach. Then, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Myrtle Beach averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, look at how much money you can put toward a down payment. Placing a minimum of 20% down can improve your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. Here's where it can help to get prequalified for a mortgage. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at 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 Myrtle Beach, SC

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