by Brent Knapp | Down Payments, First Time Home Buyers, For Buyers, Move-Up 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.” Myth #1: “I Need a 20% Down Payment” Buyers...
by Brent Knapp | Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers
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. Nearly...
by Brent Knapp | Down Payments, First Time Home Buyers, For Buyers
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...
by Brent Knapp | Down Payments, First Time Home Buyers, For Buyers
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 would it take you to save for a down payment in each state?Using...
by Brent Knapp | Down Payments, First Time Home Buyers, For Buyers, Infographics, Interest Rates
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. Source: KCM
by Brent Knapp | Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers
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...
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