For millennials, this is the greatest hurdle to homeownership As far as Tatiana Skomski is concerned, the American dream is alive and well — although just beyond reach. Skomski, 24, lives with her boyfriend, K.J., and their dog, Lola, in Portland, Ore. They picture getting married, buying a house and starting a family. "It's a … Continue reading For millennials, this is the greatest hurdle to homeownership
Lower Down Payments Make Homeownership More Accessible Although DownPayment Resource is reporting in their Down Payment Report for June that homeownership is struggling—63.9 percent of the population and falling—newer “super low down” loans are starting to become more popular with millennials to get their foot in the home-ownership door. The standard 20 percent down payment … Continue reading Lower Down Payments Make Homeownership More Accessible
Check out these articles ~ The Down Payment is the Big Thing Millennial Homebuyer Capacity is Shrinking Rising Mortgage Rates Leave First-Time Buyers Timid
Young adults need to save for at least 5 years to buy a home: study We know buying a home isn’t a realistic possibility for most Americans. Particularly among homebuyers 35 and younger, affordability is a central concern, with 32.5% citing it as their primary worry. Only 7% said they had no concerns about the … Continue reading Young adults need to save for at least 5 years to buy a home: study
From The MReport.com 2/9/16 Although rents continue to rise at a rapid pace, many non-homeowners are still shying away from the real estate market due to down payment and credit score troubles. Zillow's Rent Forecast found that rents will flatten in 2016, but will still be unaffordable in most markets. This presents yet another challenge for … Continue reading Prospective Homeowners Held Back by Financial Situation
Down Payment Assistance Thank you for your interest in our Down Payment Assistance Program. The City of Riverside has recently been awarded a CalHOME Grant from the State of California Department of Housing & Community Development. As of January, 2016, funds are still available! Please contact a lender from our approved Lender list below in … Continue reading Down Payment Assistance ~ Riverside
From Credit.com 5/20/15 Are you saving up to buy a home down the road? It makes sense from a personal financial planning perspective, but when it comes to whether it actually helps you get your foot in the door, you may want to reconsider.Why? In most cases, your ability to save is going to be … Continue reading Should You Save for a Down Payment Or Buy a Home Now?
87 Percent of U.S. Homes Qualify for Down Payment Help According to RealtyTrac and Down Payment Resource Analysis Counties in Mississippi, Inland California, Chicago Suburbs Post Highest Percent Qualifying; Manhattan and Four San Francisco-Area Counties Post Lowest Percent Qualifying From Realty Trac 2/4/15 IRVINE, CA--(Marketwired - Feb 4, 2015) - RealtyTrac® (www.realtytrac.com), the nation's leading … Continue reading 87% of Homes Qualify for Down Payment Help
From Zillow 1/30/14 Thanks to shifts in the lending landscape, the dream of buying a home is becoming a reality for many Americans. The Federal Housing Administration (FHA) recently made a drastic 0.5-percent cut to mortgage insurance fees, making this 3.5-percent down payment loan option much more affordable for home buyers. And just before that, Fannie Mae … Continue reading Low Down Payment Home Loans: Which Is Best for You?
How one homeowner bought a home with a $1,026 Down Payment From Yahoo Homes 11/26/14 After renting for quite a few years, Shirley Schweizer of Thornton, Colo., wanted to buy a home close to her work and for little money out of pocket. She had lost a house five years earlier because of bankruptcy, … Continue reading Buy a Home With a Low Downpayment