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...
by Chuck Norsch | 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 Chuck Norsch | 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...
by Chuck Norsch | Aug 22, 2018 | Down Payments, First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers
You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home. Many couples are asking their wedding guests to contribute to their “Down Payment Fund” rather than fulfilling a...
by Chuck Norsch | Jul 20, 2018 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers
Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much...
by Chuck Norsch | Jul 16, 2018 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Rent vs. Buy
According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have...
