For potential homebuyers attempting to set aside money for a house, pay down debt and student loans and make monthly rent payment, a 20 percent down payment is an enormous obstacle.
HomeReady ® is a good option
for potential homebuyers who want to make a small down payment (as low as 3 % of the property value), but it's not the only option.
FHA loans have a lot of
upsides for potential homebuyers — but it's important to understand the whole picture before you choose this loan type to help you purchase your home.
According to our second quarter Mortgage Lender Sentiment Survey, lenders expect to ease credit standards further; however, we continue to project that the pace of growth in total home sales will slow to 3.3 percent this year, as we believe rapid home price gains amid scarce supply will remain a
hurdle for potential homebuyers, despite improvements in credit access.»
Just a short distance north of Layton, this city of just over 37,000 features some of the lowest home prices in the state, which is
great for potential homebuyers.
The new tax bill passed by Congress in December 2017, celebrated as the Trump Administration's first major legislative victory, will have inadvertent
consequences for potential homebuyers looking to buy homes in high - end markets, and for those with a home equity line of credit (HELOC).
A brochure, Crowsnest Pass: Stewardship for Sustainability, synthesizes topics of
importance for potential homebuyers in the area, with sections entitled: Living with Wildlife, Bear Smart, Wildlife Corridors around Highway 3 and the Railroad, Connecting With Nature and Responsible Recreation.
Policy makers have recently taken steps to make it
easier for potential homebuyers to get a mortgage, including lower premiums for Federal Housing Administration insurance programs.
A slower pace of home price appreciation may provide some
relief for potential homebuyers, especially first - time buyers who couldn't reap the benefits of selling a home at high prices to buy another one.»
NPHS offer Free Homebuyer Education classes that are especially
designed for potential homebuyers who are serious about taking control of the home buying process and want to be prepared to make the right decisions.
Fannie Mae has introduced the MyCommunityMortgage ® program which features flexible home financing with as little as 3 percent down, opening the gates to
homeownership for potential homebuyers with a lack of funds for a down payment.
While the down payment always has been a
hurdle for potential homebuyers, it's become an even bigger concern recently, said Svenja Gudell, Zillow's chief economist.
Some common «negatives» that most people have heard concerning FHA loans - that obtaining one is a tedious process, that they require a 3 % downpayment - it's
important for potential homebuyers to educate themselves beyond these common conceptions before dismissing the possibility of obtaining such a loan.