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Home Buying Myths Slayed [INFOGRAPHIC]

Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! The credit score requirements for mortgage approval continue to fall.

By | 2018-04-20T04:00:20+00:00 April 20th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers|Comments Off on Home Buying Myths Slayed [INFOGRAPHIC]

Getting Pre-Approved Should Always Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing if your dream [...]

By | 2018-04-16T04:00:36+00:00 April 16th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers|Comments Off on Getting Pre-Approved Should Always Be Your First Step

Boomerang Buyers: Most Qualify for Financing in 2-3 Years

According to a new study from Lending Tree, Americans who have filed for bankruptcy may be able to rebuild enough credit to qualify for a home loan in as little as 2-3 years. This is in stark contrast to the belief that many have that they need to wait 7-10 years for their bankruptcies to clear from their credit reports before attempting to apply for either a mortgage or a personal or auto loan. The study analyzed over one million loan applications for mortgages, personal, [...]

By | 2018-04-04T04:00:34+00:00 April 4th, 2018|Buying Myths, For Buyers|Comments Off on Boomerang Buyers: Most Qualify for Financing in 2-3 Years

NOT Owning Your Home Can Cost You a Lot of Money!

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Realtor.com recently reported that: “Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.” [...]

By | 2018-04-02T04:00:35+00:00 April 2nd, 2018|Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy|Comments Off on NOT Owning Your Home Can Cost You a Lot of Money!

The Cost of Renting vs. Buying Today [INFOGRAPHIC]

Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!

By | 2018-03-30T04:00:14+00:00 March 30th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Infographics, Rent vs. Buy|Comments Off on The Cost of Renting vs. Buying Today [INFOGRAPHIC]

Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices

Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year. Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect [...]

By | 2018-03-22T04:00:11+00:00 March 22nd, 2018|Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing|Comments Off on Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices

The Mortgage Process: What You Need to Know [INFOGRAPHIC]

Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.

By | 2018-02-23T05:00:39+00:00 February 23rd, 2018|Buying Myths, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers|Comments Off on The Mortgage Process: What You Need to Know [INFOGRAPHIC]

2 Major Myths Holding Back Home Buyers

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.” Myth #1: “I Need a 20% Down Payment” Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report: “Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders [...]

By | 2018-01-30T05:00:06+00:00 January 30th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers|Comments Off on 2 Major Myths Holding Back Home Buyers