Home Buying Myths Slayed [INFOGRAPHIC]
![Home Buying Myths Slayed [INFOGRAPHIC] | Simplifying the Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/07/Slaying-Myths-STM-ENG.jpg)
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!
What You Need to Know About the Mortgage Process [INFOGRAPHIC]
![What You Need to Know About the Mortgage Process [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/07/Mortgage-Process-ENG-STM.jpg)
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.
First-Time Home Buyers Continue to Put Down Less Than 6%!
According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017.
You DO NOT Need 20% Down to Buy Your Home NOW!
The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that they cannot afford them.
3 Tips for Making Your Dream of Owning a Home a Reality [INFOGRAPHIC]
![3 Tips for Making Your Dream of Owning a Home a Reality [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/05/3-Tips-STM.jpg)
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 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?
Home Buying Myths Slayed [INFOGRAPHIC]
![Home Buying Myths Slayed [INFOGRAPHIC] | Simplifying the Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/04/20180420-STM-ENG.jpg)
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.
You Can Save for a Down Payment Faster Than You Think!
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.
It's Tax Season… Use Your Refund to Jump Start Your Down Payment Savings!
According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,840 this year when filing their taxes. This is down slightly from the average refund of $2,895, last year.
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.”
61% of First-Time Buyers Put Down Less than 6%
According to the National Association of Realtors’ latest Realtors Confidence Index, 61% of first-time homebuyers purchased their homes with down payments below 6% from October 2016 through November 2017.
3 Tips for Making Your Dream Home a Reality [INFOGRAPHIC]
![3 Tips for Making Your Dream Home a Reality [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2017/12/20171208-3-Tips-STM.jpg)
Some Highlights
- Realtor.com shared their “5 Habits to Start Now If You Hope to Buy a Home.”
- Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking a lot about it.
- Living within a budget will not only help you save money for down payments but will help you pay down other debts that might be holding you back.
Home Prices Up 7% from Last Year
According to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase.
Buying a Home Can Be Scary... Unless You Know the Facts [INFOGRAPHIC]
![Buying a Home Can Be Scary... Unless You Know the Facts [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2017/10/Mythbusters-STM.jpg)
Some Highlights
Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home, which stops many of them from even trying! Here are some facts:- 40% of millennials who purchased homes this year have put down less than 10%.
- 76.4% of loan applications were approved last month.
- The average credit score of approved loans was 724 in September.
Millennials Flock Towards Low Down Payment Programs
A report released by Down Payment Resource shows that 61% of first-time homebuyers purchased their homes with a down payment of 6% or less.
No… You Do Not Need 20% Down to Buy NOW!
The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not being able to afford one.
Number of Buyers Putting Down Less Than 10% Hits 7-Year High
According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high.
Home Buying Myths Slayed [INFOGRAPHIC]
![Home Buying Myths Slayed [INFOGRAPHIC] | Simplifying the Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2017/07/Slaying-Myths-STM.jpg)
Some Highlights
- Interest rates are still below historic numbers.
- 88% of property managers raised their rent in the last 12 months!
- The credit score requirements for mortgage approval continue to fall.
2 Myths Holding Back Home Buyers
In Realtor.com’s recent article, “Home Buyers’ Top Mortgage Fears: Which One Scares You?” they mention that “46% of potential home buyers fear they won’t qualify for a mortgage to the point that they don’t even try.”
69% of Buyers are Wrong About Down Payment Needs
According to a recent survey conducted by Genworth Financial Inc. at the Annual Mortgage Bankers’ Association Secondary Market Conference, mortgage professionals say that first-time buyers still believe a 20% down payment is necessary to buy in today’s market.
Buying a Home? Do You Know the Lingo?
Buying a home can be intimidating if you are not familiar with the terms used during the process. To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home.
Your Tax Return: Bring it Home
This time of year, many people eagerly check their mailboxes looking for their tax return check from the IRS. But, what do most people plan to do with the money? GO Banking Rates recently surveyed Americans and asked the question - “What do you plan on doing with your tax refund?”
How Fast Can You Save for a Down Payment?
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take you to save for a down payment in each state.
Slaying Home Buying Myths [INFOGRAPHIC]
![Slaying Home Buying Myths [INFOGRAPHIC] | Simplifying the Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2017/04/Slaying-Myths-STM-2.jpg)
Some Highlights
- Interest rates are still below historic numbers.
- 88% of property managers raised their rent in the last 12 months!
- The credit score requirements for mortgage approval continue to fall.
Home Mortgages: Rates Up, Requirements Easing
The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen.
Millennials Flock to Low Down Payment Programs
A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the month of January.
