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Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

Some Highlights: The average down payment for first-time homebuyers is only 6%! Mortgage interest rates have been on the decline since November! Hop in now to lock in a low rate! 88% of property managers raised their rents in the last 12 months! The average credit score on approved loans continues to fall across many loan types!  

By |2019-04-12T04:00:54-06:00April 12th, 2019|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Move-Up Buyers, Pricing, Rent vs. Buy|Comments Off on Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

Your Tax Refund Is The Key To Homeownership!

According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $3,143 this year when filing their taxes. This is down slightly from the average refund of $3,436 last year. Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals. For anyone looking to buy a home in 2019, this can be a great jump start toward a down payment! The map below shows the average tax refund Americans received last year by state. Many first-time [...]

By |2019-03-25T04:00:07-06:00March 25th, 2019|Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Your Tax Refund Is The Key To Homeownership!

3 Tips for Making Your Dream of Buying A Home Come True [INFOGRAPHIC]

Some Highlights: Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking too much about it. Living within a budget right now will help you save money for down payments while also paying down other debts that might be holding you back. What are you willing to cut back on to make your dreams of homeownership a reality?

By |2019-02-22T05:00:18-06:00February 22nd, 2019|Down Payments, First Time Home Buyers, For Buyers, Infographics|Comments Off on 3 Tips for Making Your Dream of Buying A Home Come True [INFOGRAPHIC]

One More Time… You Do Not Need 20% Down to Buy a Home

The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising rents, which has eaten into the amount of money renters have leftover for savings each month after paying expenses. In combination with higher rents, survey after survey has shown that non-homeowners (renters and those living rent-free with family or friends) believe they need to save upwards of 20% for their down payment! According to the “Barriers to Accessing Homeownership” study commissioned in [...]

By |2019-02-05T05:00:21-06:00February 5th, 2019|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers|Comments Off on One More Time… You Do Not Need 20% Down to Buy a Home

Will Your Side Hustle Buy You a House This Year?

The top concern for most first-time home buyers is their ability to save for a down payment. According to a new survey, 36% of millennials took on a second job to make their dreams of homeownership a reality in 2017.  Among millennials with incomes over $100,000 a year, the top ways to come up with the necessary funds were to sell stocks (20%) or to sell cryptocurrency (16%). The most popular method of savings was the most traditional; 60% of those saving for a down [...]

By |2018-11-21T05:00:30-06:00November 21st, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Millennials|Comments Off on Will Your Side Hustle Buy You a House This Year?

2 Myths Holding Back Home Buyers

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability,” which revealed that, “Consumers often think they need to put more money down to purchase a home than is actually required. In a 2017 survey, 68% of renters cited saving for a down payment as an obstacle to homeownership. Thirty-nine percent of renters believe that more than 20% is needed for a down payment and many renters are unaware of low–down payment programs.” Myth #1: “I Need a 20% Down Payment” Buyers often [...]

By |2018-11-05T05:00:21-06:00November 5th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers|Comments Off on 2 Myths Holding Back Home Buyers

Are You Spending TOO Much on Rent?

Chances are if you are renting you are spending too much of your income on your monthly housing expense. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their rent or mortgage payment. This percentage allows the household to save money for the future while comfortably covering other expenses. According to new data released from ApartmentList.com, 49.5 million renters in the United States were cost-burdened in 2017, meaning they spent more than 30% of their monthly incomes [...]

By |2018-10-30T04:00:02-06:00October 30th, 2018|Down Payments, First Time Home Buyers, For Buyers, Rent vs. Buy|Comments Off on Are You Spending TOO Much on Rent?

Still Think You Need 15-20% Down to Buy a Home? Think Again!

According to a new study from Urban Institute, there are over 19 million millennials in 31 cities who are not only ready and willing to become homeowners, but are able to as well! Now that the largest generation since baby boomers has aged into prime homebuying age, there will no doubt be an uptick in the national homeownership rate. The study from Urban Institute revealed that nearly a quarter of this generation has the credit and income needed to purchase a home. Surprisingly, the largest [...]

By |2018-10-24T04:00:42-06:00October 24th, 2018|Down Payments, First Time Home Buyers, For Buyers, Millennials|Comments Off on Still Think You Need 15-20% Down to Buy a Home? Think Again!

The Cost of NOT Paying PMI

Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this limiting belief that often adds months, and sometimes even years, to the home-buying process. So, if you can purchase a home with less than a 20% down payment… why aren’t more people doing just that? One Possible Answer: Private [...]

By |2018-09-26T04:00:43-06:00September 26th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers|Comments Off on The Cost of NOT Paying PMI

Having Trouble Saving Enough for Your Down Payment? Crowdfund It!

You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home. Many couples are asking their wedding guests to contribute to their “Down Payment Fund” rather than fulfilling a traditional registry. This is fueled by the fact that many couples live together prior to marriage and already have the necessary items to make a house a home…they just need the house! The average wedding in the United States has 120 guests [...]

By |2018-08-22T04:00:35-06:00August 22nd, 2018|Down Payments, First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers|Comments Off on Having Trouble Saving Enough for Your Down Payment? Crowdfund It!