Down Payments

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

Posted by Monica Foster On February 5, 2019 In General Information

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 [...] Read More

Monica Foster February 5, 2019

Will Your Side Hustle Buy You a House This Year?

Posted by Monica Foster On November 21, 2018 In General Information

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. [...] Read More

Monica Foster November 21, 2018

2 Myths Holding Back Home Buyers

Posted by Monica Foster On November 5, 2018 In General Information

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 [...] Read More

Monica Foster November 5, 2018

Are You Spending TOO Much on Rent?

Posted by Monica Foster On October 30, 2018 In General Information

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 [...] Read More

Monica Foster October 30, 2018

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

Posted by Monica Foster On October 24, 2018 In General Information

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 [...] Read More

Monica Foster October 24, 2018

The Cost of NOT Paying PMI

Posted by Monica Foster On September 26, 2018 In General Information

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 [...] Read More

Monica Foster September 26, 2018

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

Posted by Monica Foster On August 22, 2018 In General Information

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 [...] Read More

Monica Foster August 22, 2018

Posted by Monica Foster On August 3, 2018 In General Information

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! [...] Read More

Monica Foster August 3, 2018

Posted by Monica Foster On July 20, 2018 In General Information

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 [...] Read More

Monica Foster July 20, 2018

First-Time Home Buyers Continue to Put Down Less Than 6%!

Posted by Monica Foster On July 16, 2018 In General Information

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. Many potential homebuyers believe that a 20% down payment is necessary to buy a [...] Read More

Monica Foster July 16, 2018

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