Download Our Guide For

First Time Home Buying

First Step:
Read Our Home Buying Guide

You are on the right track! Download our free, home buying guide for assistance during the buying process.

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First Time Buying? We've Got You Covered!

If it's your first time buying a home, don't stress yourself out — explore a few of our resources to see how we can help. From helping you figure out your mortgage payments, to laying out a step-by-step guide to buying, we'll be there every step of the way to make sure things go off without a hitch. Get to know more about our team and the Northeast Mississippi area, and find out what we can do for you today!

Find Your Perfect Style

So, you've decided to buy a home in the North East Mississippi area. Congratulations! This is a wonderful community to call home for so many reasons. And when it comes to buying a home, you have to make sure it's in a community that's going to complement your lifestyle. Luckily, the North East Mississippi area is so vibrant, diverse, and thriving, it truly has something for everyone. Get to know nearby communities, and find your perfect fit, by browsing our area guides below. Have a question about a particular community? Don't be afraid to ask.

Local Area Guides

Consult Your Finances

Buying a home in Northeast Mississippi is a major step and also a big investment. Although you get to enjoy more security and freedom, there's also a lot of extra responsibility to take into consideration. When you're a renter, your landlord will likely take care of most of the necessary upkeep and repairs. When you own your home, you'll have to take care of all of those things on your own. 

Are you ready to buy your first home? If you aren't sure where you stand financially, you should consider getting pre-approved. During the process, a bank lender will review your finances — including your credit score, annual income, savings, and more — and basically set your budget for you! Once the review is completed, you'll find out how much the bank is willing to loan you, which helps in deciding on a downpayment range.

In order to make sure that you're getting the best deal, we recommend meeting with a few different lenders. Need help getting started? Let us know, and we can set you up with one of our local contacts.

The Upfront Costs of Buying a Home

In addition to your monthly mortgage payments, you can expect to pay a few costs up front and out of pocket. We've broken down the payments you'll encounter and just how much you should plan on spending.

Down Payment

In a typical mortgage, a down payment is 20% of the overall cost of your home, but that amount can vary, as some people pay more or less. For a $200,000 home, an 20% down payment runs at about $40,000. Depending on the type of loan you take out, your down payment could be anywhere from 3% to 20% or greater.

Earnest Money

Earnest money is your way of showing the seller that you're serious. If you can put down a certain amount right away, they're much more likely to consider your offer. In fact, some sellers may not even accept an offer without earnest money. If you end up buying the home, the earnest money will go towards your down payment and closing costs.

Home Inspection

Home inspections are typically before closing, and help you avoid any last-minute issues or unexpected costs. During the process, a professional will walk through your home with you, pointing out any potential problem areas. While the walkthrough will cost you a couple hundred dollars, it could end up saving you thousands.

Closing Costs

If you've made it to closing day, then congratulations! You just have to dot a few more "i"s and cross a few more "t"s then you're all done. The last few costs include real estate attorney fees, taxes, title expenses, and the cost to actually process your mortgage. Closing costs may end up totaling 2-5% of your home's costs.

Calculate Your Monthly Payments

Want to get a better idea of what you might be paying per month? Take a look at our handy mortgage calculator to help estimate your monthly costs.

Ready to Find Your
Dream Home?

Northeast Mississippi is filled with tons of top-notch homes and tight-knit communities. We can't recommend life here enough, and we're excited to help you find your perfect place! Use our helpful home search tool to get started on narrowing down your options, from location to size to amenities.

Meet Your Perfect Match

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Additional Home-Buying Resources

Still need some info? Explore our site to see more of the resources we offer. 

Let's Get Started

If you're thinking of buying a home in Northeast Mississippi, then it's time to contact the JMorris Realty Team. We're here to help you explore the area, discover its beautiful communities, and find the perfect home for your unique needs. Give us a call and let's get started today!