Saving for a Down Payment? Here’s What You Need To Know.
If you're planning to buy your first home, then you're probably focused on saving for all the costs involved in such a big purchase.
Keys to Success for First-Time Homebuyers
Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better.
Your Tax Refund Can Help You Achieve Your Homebuying Goals
Have you been saving up to buy a home this year?
How To Make Your Dream of Homeownership a Reality
According to a recent Harris Poll survey, 8 in 10 Americans say buying a home is a priority, and 28 million Americans actually plan to buy within the next 12 months. Homeownership provides many financial and nonfinancial benefits, so that interest is understandable.
You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC]
![You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC] | Simplifying The Market](https://api.simplifyingthemarket.com/wp-content/uploads/2023/02/You-May-Not-Need-As-Much-As-You-Think-For-Your-Down-Payment-MEM.png)
Some Highlights
- Many people believe you need to put down 20% of the purchase price when you buy a home. But recent homebuyers actually put down far less on their purchase.
- And with programs like FHA loans, VA loans, and USDA loans, some qualified buyers are able to put down as little as 0-3.5%.
- Let’s connect to make sure you have a trusted lender and can find out if you’re ready to buy a home sooner rather than later.
Key Terms To Know When Buying a Home [INFOGRAPHIC]
![Key Terms To Know When Buying a Home [INFOGRAPHIC] | Simplifying The Market](https://files.simplifyingthemarket.com/wp-content/uploads/2023/01/11164449/Key-Terms-To-Know-When-Buying-A-Home-MEM.png)
Some Highlights
- Buying a home is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process.
- If you’re looking to become a homeowner this year, it’s important to know these housing terms and how they relate to the current market so you feel confident throughout the homebuying process.
- Let’s connect so you have expert answers for any questions as they come up.
Wondering How Much You Need To Save for a Down Payment?
If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don't let a common misconception about how much you need to save make the process harder than it could be.
Financial Fundamentals for First-Time Homebuyers
Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home.
VA Loans: Making Homes for the Brave Achievable [INFOGRAPHIC]
![VA Loans: Making Homes for the Brave Achievable [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2022/11/VA-Loans-Making-Homes-For-The-Brave-Achievable-MEM.png)
Some Highlights
- VA Loans can help make homeownership possible for those who have served our country.
- These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a new home, or make improvements to their house.
- Homeownership is the American Dream. One way we can honor and thank our veterans is to ensure they have the best information about the benefits of VA home loans.
VA Loans Can Help Veterans Achieve Their Dream of Homeownership
For over 78 years, Veterans Affairs (VA) home loans have provided millions of veterans with the opportunity to purchase homes of their own. If you or a loved one have served, it’s important to understand this program and its benefits.
Taking the Fear out of Saving for a Home
If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter. And to do that, turn to trusted real estate professionals. They can help you plan your finances and prepare your budget.
Four Things That Help Determine Your Mortgage Rate
If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically.
Saving for a Down Payment? Here’s What You Should Know.
As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start.
Homeownership Could Be in Reach with Down Payment Assistance Programs
A recent survey from Bankrate asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home.
Three Tips for First-Time Homebuyers
Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you're looking to purchase your first home, you may be wondering what's happening in the housing market today, how much you need to save, and where to start.
Things That Could Help You Win a Bidding War on a Home
With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below):
What You Need To Budget for When Buying a Home
When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you’re not expected to have all the answers yourself. There are many trusted professionals who can help you understand your finances and what you’ll need to budget for throughout the process.
Key Terms for Homebuyers [INFOGRAPHIC]
![Key Terms for Homebuyers [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2022/03/20220311-MEM.png)
Some Highlights
- Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford.
- Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction.
- Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. Let’s connect so you have an expert guide and advice for any questions that may come up.
Down Payment Assistance Programs Can Help You Achieve Homeownership
For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from the National Association of Realtors (NAR) shows:
Millennials: Do You Need a Home with More Space?
If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home.
How To Win as a Buyer in a Sellers’ Market [INFOGRAPHIC]
![How To Win as a Buyer in a Sellers’ Market [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2022/02/20220211-MEM.png)
Some Highlights
- Even in today’s sellers’ market, there are still ways for buyers to win big.
- Build a team of trusted professionals and make strategic plays as you budget and pick your desired neighborhoods. Then, be ready for the competition by getting a pre-approval letter and leaning on your expert advisors to draft a winning offer.
- In a sellers’ market, you can still be the champion if you have the right team and strategy. Let’s connect today to make your game-winning play.
Don’t Let Student Loans Delay Your Homeownership Dreams
If you’re looking to buy a home, you may be wondering how your student loan debt could impact those plans. Do you have to wait until you’ve paid off your student loans before you can buy your first home? Or could you qualify for a home loan with that debt?
How To Hit Your Homebuying Goals This Year [INFOGRAPHIC]
![How To Hit Your Homebuying Goals This Year [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2022/01/20220107-MEM.png)
Some Highlights
- If you’re looking to buy a home, you may want to put these items on your to-do list to ensure you hit your goals.
- It’s important to start working on your credit and saving for a down payment early. When you’re ready to begin your search, work with a real estate professional and get pre-approved so you know how much you can borrow.
- Connect with a real estate advisor so you have the guidance you need to achieve your homebuying goals this year.
How Much Do You Need for Your Down Payment?
As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment?
The Perks of Putting 20% Down on a Home
If you’re thinking of buying a home, you’re probably wondering what you need to save for your down payment. Is it 20% of the purchase price, or could you put down less? While there are lower down payment programs available that allow qualified buyers to put down as little as 3.5%, it’s important to understand the many perks that come with a 20% down payment.
