by Linda Richardson | Feb 5, 2019 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers
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 paying expenses. In combination with...
by Linda Richardson | Nov 5, 2018 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers
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...
by Linda Richardson | Oct 30, 2018 | Down Payments, First Time Home Buyers, For Buyers, Rent vs. Buy
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 mortgage payment. This percentage allows the...
by Linda Richardson | Oct 24, 2018 | Down Payments, First Time Home Buyers, For Buyers, Millennials
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,...
by Linda Richardson | Sep 26, 2018 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers
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...
