Posts Tagged ‘low down payment’

Millennials Flock Towards Low Down Payment Programs

Tuesday, October 31st, 2017

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. The trend continued among all buyers with a mortgage, as 73% made a down payment of less than 20%. An article by Chase points to a new wave of millennial homebuyers: “We teamed up with Google 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 […]

Number of Home Buyers Putting Down Less Than 10% Hits 7-Year High

Friday, September 22nd, 2017

According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans home buyers 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. Many mortgage programs offered by agencies like Freddie Mac and Fannie Mae allow buyers […]

Millennials Flock to Low Down Payment Programs

Wednesday, April 19th, 2017

A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a low down payment of 6% or less in the month of January. The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings […]

Would You Qualify for a Mortgage Now?

Wednesday, July 20th, 2016

The widespread myth that perfect credit and large down payments are necessary to buy a home are holding many potential home buyers on the sidelines. According to Ellie Mae’s latest Origination Report, the average FICO score for all closed loans in May was 724, far lower than the 750 or 800 that many buyers believe […]

How Long Will it Take to Save Up for a Down Payment on a Home?

Wednesday, April 20th, 2016

In a study conducted by Builder.com, researchers determined that nationwide, it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home. Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage of income a renter spends on housing […]

Slaying Myths About Buying a Home

Tuesday, November 17th, 2015

Some Highlights: Interest Rates are still below historic numbers. 88% of property managers raised their rent in the last 12 months! Credit score requirements to be approved for a mortgage continue to fall. The 723 average score is the lowest since Ellie Mae began reporting on scores in August 2011. The average first-time home buyer […]



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