Posts Tagged ‘downpayment’

How Quickly Can You Save Your Down Payment?

Thursday, May 30th, 2019

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. Using data from HUD, Census and […]

What Credit Score Do You Need To Buy A House

Wednesday, April 3rd, 2019

There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed! Only 25% of the Americans have a FICO® Score between 740 and 800. Here is […]

Your Tax Refund Is The Key To Homeownership!

Thursday, March 28th, 2019

  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 […]

What is holding you back from buying a home?

Tuesday, November 13th, 2018

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 […]

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

Thursday, November 1st, 2018

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 Cost of NOT Paying PMI

Wednesday, October 17th, 2018

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 […]

2 Major Myths Holding Back Home Buyers

Monday, February 5th, 2018

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” Home buyers often overestimate the down payment […]

61% of First-Time Buyers Put Down Less than 6%

Thursday, January 25th, 2018

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. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying. The median down payment […]

3 Tips for Making Your Dream Home a Reality

Wednesday, December 27th, 2017

Is your goal for 2018 to buy your own dream home?  Here are three great tips to help you get there: Automate Your Down Payment Savings – Saving for a down payment is often one of the biggest barriers to homeownership cited in survey after survey. One way to jump start your savings is to […]

No… You Do Not Need 20% Down to Buy NOW!

Monday, October 9th, 2017

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 to not buy now, is not being able to […]



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