by Chuck Norsch | May 8, 2019 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers
If you are in the market to buy a home this year, you may be confused about how much money you need to come up with for your down payment. Many people you talk to will tell you that you need to save 20% or you won’t be able to secure a mortgage. The truth is that...
by Chuck Norsch | Apr 29, 2019 | Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up 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 it would take to save for a down payment in each state. Using data...
![Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]](http://chucknorsch.com/wp-content/uploads/2019/04/20190412-Share-KCM-549x300.jpg)
by Chuck Norsch | Apr 12, 2019 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Move-Up Buyers, Pricing, Rent vs. Buy
Some Highlights: The average down payment for first-time homebuyers is only 6%! Mortgage interest rates have been on the decline since November! Hop in now to lock in a low rate! 88% of property managers raised their rents in the last 12 months! The average credit...
by Chuck Norsch | Mar 25, 2019 | Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers
According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $3,143 this year when filing their taxes. This is down slightly from the average refund of $3,436 last year. Tax refunds are often thought of...
by Chuck Norsch | 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 Chuck Norsch | 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...
